According to Bloomberg analyst Eric Balchunas, the SEC has directed issuers to submit their final S-1 filings by July 16, with the aim of launching the new Ether funds on July 23.
The United States Securities and Exchange Commission (SEC) has reportedly delivered final instructions to asset managers preparing to launch Ether exchange-traded funds (ETFs).
According to Bloomberg’s analyst Eric Balchunas, the Commission instructed issuers to submit their final S-1 filings by July 16, targeting a launch for the new funds on July 23. The final filings must include the fees issuers plan to charge in their new crypto funds.
On May 23, the agency approved issuers' 19-b form proposing rule changes that would allow the crypto-based investment vehicles. Asset managers now need approval for their initial securities registration S-1 forms.
