The Chair of the SEC anticipates the approval of the Ethereum spot ETF S-1s this summer. The sponsor fee disclosure was omitted by the asset manager. Fidelity Investments, a financial services giant, recently made changes to the S-1 registration form for the spot Ethereum ETF. It is expected that most potential spot Ethereum issuers will submit these modifications today, as previously anticipated.
Rumors about the approval of spot Ethereum ETFs for trading have been circulating, and the revised S-1 filing by Fidelity Investments has added fuel to the fire. However, according to Eric Balchunas, a senior ETF analyst at Bloomberg, the sponsor fee was missing from Fidelity’s disclosure. Balchunas also noted that Bitwise and BlackRock did not disclose fees in their recent filings, contrary to popular belief.
In a surprising move, Franklin Templeton set a sponsor fee of 19 basis points, defying convention. Balchunas suggested that the delay in approval may be due to issuers not being able to provide the spot ETF without fees indefinitely.
All eyes are now on the SEC, as Chair Gary Gensler expects the Ethereum spot ETF S-1s to be approved this summer. Speculation about the launch window of the S-1 has been rife, leading to varying opinions in the community after Gensler’s announcement.
During a discussion with Senator Hagerty, Gensler highlighted the itinerary, sparking speculation on social media about the potential listing date of the Ethereum ETF since the spot 19b-4 filings were approved on May 23. Gensler emphasized that the issuers, not the SEC, would have the final say on the listing schedule and stressed the importance of acting swiftly on feedback.
In other crypto news today, FLOKI has announced new developments and strategic marketing initiatives.