Bloomberg analyst predicts end of June ETH ETF launch as Grayscale updates S-3 statement Bloomberg analyst predicts end of June ETH ETF launch as Grayscale updates S-3 statement
Bloomberg Senior ETF Eric Balchunas called an earlier mid-June launch a "long shot."
2 min read
Updated: May. 31, 2024 at 1:05 pm UTC
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Bloomberg ETF analyst Eric Balchunas said on May 30 that US spot Ethereum ETFs could launch in June amidst updated BlackRock and Grayscale filings.
Balchunas said there is a “legit possibility” that spot Ethereum ETFs will launch by the end of June. He added that an earlier mid-June launch was a “long shot.”
Balchunas said the latest date he expects the products to launch would be July 4.
Balchunas’ expectations are influenced by the timing of issuers’ S-1 statements. He commented on BlackRock’s May 29 S-1 amendment, which he noted did not include a fee and other vital data — making it a “next to final version.”
Grayscale also submitted an S-3 amendment for its fund on May 30, updating the fund to reflect a clear prohibition on staking.
Both statements mark one of the final requisite steps before the funds can launch for trading.
Politics are at play
Balchunas’ expectations regarding a launch date are partly related to the SEC’s supposed political motivations for the funds.
Balchunas argued the SEC’s initial approvals have satisfied political needs, writing:
” … The political goal of not appearing anti-crypto has already been achieved by simply not rejecting [the ETFs]. No real reason to rush.”
Other industry members, such as Ark Invest CEO and CIO Cathie Wood and Coinbase institutional research analyst David Han, have similarly argued that the SEC approved the funds for political reasons.
More S-1 statements incoming
The Block reported that the SEC has asked other applicants to submit draft S-1 filings by May 31, after which the SEC will issue its first round of comments.
Each applicant will then submit further amendments in response if needed.
As of press time, all ETH issuers have submitted S-1 or S-3 registration statements. However, apart from BlackRock and Grayscale, only VanEck has submitted amendments since the SEC granted initial approvals for exchange rule changes ETFs on May 23.
Balchunas’ fellow Bloomberg ETF analyst, James Seyffart, believes the SEC will take weeks or months to approve S-1 statements.
Mentioned in this article
Ethereum 
BlackRock 
Fidelity Investments 
VanEck 
Grayscale Investments 
Ark Invest 
Coinbase 
Eric Balchunas 
James Seyffart 
Gary Gensler Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
VanEck
VanEck is a global investment manager with offices around the world, including New York, Australia, China, Germany, Netherlands and Switzerland.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.
James Seyffart is a well-regarded analyst at Bloomberg Intelligence, specializing in Exchange-Traded Funds (ETFs) and the broader fund industry.
Gary Gensler is an American government official and former investment banker who President Joseph Biden nominated to chair the U.S.