Author: Helene Braun, CoinDesk; Compiler: Wuzhu, Golden Finance
The U.S. Securities and Exchange Commission informed the issuer of the ETH exchange-traded fund that the fund can begin trading on July 23, according to sources.
The SEC had no further comment on the recently filed S-1 document, and the final version needs to be submitted by Wednesday.
ETH outperformed BTC on Monday, affected by the news of the approval of ETF trading.
The U.S. Securities and Exchange Commission (SEC) informed potential issuers of spot Ethereum (ETH) exchange-traded funds (ETFs) on Monday that the funds will begin trading next Tuesday, two people familiar with the matter told CoinDesk.
SEC officials told one issuer that the regulator had no further comments on the recently filed S-1 and that the final version needed to be submitted by Wednesday, one source said, adding that the funds would then be listed on exchanges on Tuesday, July 23.
Trading could begin on Tuesday after the ETFs are deemed effective next Monday, another source said.
The development was first reported in a social media post by Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.
The issuer filed its revised S-1 last week but has yet to disclose some details, including how much management fees they will charge investors. So far, only a few issuers, such as VanEck and Invesco Galaxy, have disclosed their fees.
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