Bloomberg Analyst Predicts July 18 for ETH ETF Launch Amidst S-1 Amendments

By: Eva Baxter

Spot Ethereum (ETH) ETF applicants have recently amended their registration statements, with Bloomberg ETF analyst Eric Balchunas forecasting a potential launch date.

On July 8, Eric Balchunas suggested that July 18 might be the likely launch date for the Ethereum ETF. However, he refrained from making a firm prediction as the SEC's plans remain unclear. Balchunas described the changes in the latest amendments as minimal, commenting on two of the earliest filings with a statement: "Nothing to see here."

Balchunas mentioned that the SEC had required applicants to submit their applications by a specified date but had not asked them to declare fees. He elaborated on the process, stating, "[The SEC] will give guidance back to issuers soon along with the game plan. Then the docs will come back with fees (and every other blank) filled in, and then it's Go time."

The recent S-1 and S-3 amendments are related to asset managers' authority to issue ETFs, distinct from the previously approved 19b-4 filings that allow exchanges to list and trade the funds upon launch.

Filings Add Waiver and Seed Info

Six asset managers — BlackRock, Fidelity, Grayscale, 21Shares, Franklin Templeton, and VanEck — filed amendments today. Bitwise had already submitted its amendment on July 3.

Franklin Templeton's amendment added details about seed investment, revealing that seed capital investor Franklin Resources Inc. had purchased 4,000 shares at $25 each, totaling $100,000.

VanEck noted that its trust acquired 2,929 ETH from the seed creation basket sale proceeds, while BlackRock reported a purchase of 3,031 ETH with the proceeds. Previously, VanEck and BlackRock had declared initial seed capital investments of $100,000 and $10 million, respectively.

VanEck introduced a waiver stating its intention to waive sponsor fees for the first $1.5 billion over one year. Bitwise filed for a six-month, $500 million waiver, and Franklin Templeton maintained its earlier six-month, $10 billion waiver.

It’s important to note that none of the applicants introduced new sponsor fees.

In another related development, VanEck reported that Cboe had submitted a 19b-4 proposed rule change to list and trade its spot Solana (SOL) ETF. However, this update does not affect the company's Solana S-1 registration, which was submitted on June 27.