E TRADE FUNDS
485BXT, 2000-01-14
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                                                    Registration Nos. 333-66807
                                                                      811-09093

    AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 14, 2000

                       SECURITIES AND EXCHANGE COMMISSION

                                   WASHINGTON, D.C. 20549

                                    FORM N-1A

REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933                                                 /X/
Pre-Effective Amendment No.                                            / /
                            -----

Post-Effective Amendment No. 12                                        /X/
                             ---
and/or
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940                                         /X/
Amendment No.  15                                                      /X/
               --
(Check appropriate box or boxes)

                                  E*TRADE FUNDS

               Exact name of Registrant as specified in charter)

                               4500 Bohannon Drive

                               Menlo Park, CA 94025
                    (Address of Principal Executive Offices)

Registrant's Telephone Number, including Area Code:  (650) 331-5000

                                 Kathy Levinson
                            E*TRADE Securities, Inc.
                               4500 Bohannon Drive
                               Menlo Park, CA 94025
                          (Name and address of agent for service)

                        Please send copies of all communications to:

David A. Vaughan, Esq.                   Brian C. Murray
Dechert Price & Rhoads                   E*TRADE Funds
1775 Eye Street, NW                      4500 Bohannon Drive
Washington, DC  20006                    Menlo Park, CA 94025

Approximate Date of Proposed Public Offering:  As soon as practicable  after the
effective date of this Registration Statement.

The Registrant hereby amends this  Registration  Statement on such date or dates
as may be necessary to delay its effective date until the Registrant  shall file
a further amendment which specifically  states that this Registration  Statement
shall  thereafter  become  effective  in  accordance  with  Section  8(a) of the
Securities  Act of  1933 or  until  this  Registration  Statement  shall  become
effective on such date as the  Commission,  acting pursuant to Section 8(a), may
determine.

It is proposed that this filing will become effective (check appropriate box):

        Immediately upon filing pursuant to paragraph (b)
- --------
X       on January 24, 2000 pursuant to paragraph (b)
- --------
        60 days after filing pursuant to paragraph (a)(1)
- --------
        75 days after filing pursuant to paragraph (a)(2) of Rule 485
- --------

If appropriate, check the following box:

         This  post-effective  amendment  designates a new effective  date for
X        previously filed post-effective amendments.
- ---------
This Post-Effective  Amendment No. 12 to the Registration Statement on Form N-1A
for E*TRADE  Funds (the  "Fund")  incorporates  by reference  the  Prospectuses,
Statements of  Additional  Information  and Parts C contained in  Post-Effective
Amendment  No. 7, which was filed with the  Securities  and Exchange  Commission
("SEC") on October 8, 1999; and Post-Effective Amendment No. 11, which was filed
with the SEC on December  20, 1999 to extend the  effective  date to January 17,
2000.  This PEA No. 12 seeks to extend the effective  date of this  Registration
Statement to January 24, 2000.
<PAGE>

                                   SIGNATURES

      Pursuant to the  requirements  of the  Securities Act of 1933, as amended,
the  Registrant  has duly caused  this  Post-Effective  Amendment  No. 12 to the
Registration  Statement  to be signed on its  behalf  by the  undersigned,  duly
authorized, in the City of Menlo Park in the State of California on the 13th day
of January, 2000.

                                  E*TRADE FUNDS

                                  (Registrant)

                                          By:         *
                                                ----------------------------
                                                Name: Brian C. Murray
                                                Title: President

      Pursuant to the  requirements  of the  Securities Act of 1933, as amended,
this  Post-Effective  Amendment  No. 12 to the  Registration  Statement has been
signed by the following persons in the capacities and on the dates indicated:

Signature                           Title                   Date

*
- ----------------------------
Leonard C. Purkis                Trustee and Treasurer      January 13, 2000
                                 (Principal Financial and
                                  Accounting Officer)

*
- ----------------------------
Brian C. Murray                  President (Principal       January 13, 2000
                                  Executive Officer)


*
- ----------------------------
Shelly J. Meyers                 Trustee                    January 13, 2000


*
- ----------------------------
Ashley T. Rabun                  Trustee                    January 13, 2000



*
- ----------------------------
Steven Grenadier                 Trustee                    January 13, 2000


- ----------------------------
George J. Rebhan                 Trustee                    January 13, 2000


*By         /s/                                             January 13, 2000
    -----------------------
    David A. Vaughan
    Attorney-In-Fact


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