With the crypto and financial world eagerly awaiting the US Securities and Exchange Commission’s (SEC) Ether spot ETF decision today, an executive of one of the applicant companies stated that the SEC has contacted the companies about the S-1 filing.

S-1 filing may delay the work

As is well known, S-1 filings contain detailed information about the company’s financial condition, business model, risk factors and management team for ETF filings with the SEC. Approval of the S-1 filing is considered one of the most important steps for the ETF to be traded on the stock exchange.

The SEC’s decision today will actually be related to the 19b-4 filings made by companies. So even if the 19b-4 filings are approved by the SEC, it may take some more time for the S-1 filings to materialize. Therefore, it may also take time to open the funds for trading.

“They were caught unprepared”

Speaking to The Block, a US media outlet, a manager of one of the companies applying for an Ether spot ETF said in a statement that the SEC has just contacted the companies about their S-1 files and that the institution was actually caught unawares in this regard. This unnamed person used the following statements:

“Basically, it’s just starting,” said a high-ranking member at an issuer when asked about conversations relating to S-1 forms. It feels a little like (the Division of Investment Management) was more-or-less caught off-guard by the change of tune. So, just starting.”

Speaking on the subject, Bloomberg ETF analyst Eric Balchunas said, “I don’t know how fast the fast track is, but it’s going to be probably a mad scramble for the next couple days, maybe even weeks — depends on the S-1.”