‘It’s happening’ — 5 Ethereum ETF bidders amend SEC filings

cyptouser6 months agoCryptocurrencies News114
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Five potential spot Ether (ETH) exchange-traded fund (ETF) issuers have submitted amended 19b-4 filings after receiving last-minute feedback from the Securities and Exchange Commission.

The amended filings came from Fidelity, VanEck, Invesco and Galaxy, Ark 21Shares and Franklin Templeton, several filings show.

All five filings came in a 25-minute period between 9:35 pm and 10:00 pm UTC on May 21, according to Bloomberg ETF analyst James Seyffart.

Seyffart iterated that approved 19b-4 filings will need to be accompanied by signed off S-1 registration statements in order for the spot Ether ETFs to launch.

“Still a potentially long way from a launch. But these filings prove that all of the rumors and speculation and chatter have been accurate,” he added.

Source: James Seyffart

The SEC must decide on VanEck’s application by May 23. However industry pundits tip the regulator will make a decision on all or most applicants in a similar way to how it handled the spot Bitcoin (BTC) ETFs.

Related: Spot Ether ETFs will come down to a 5-person vote — Gensler the decider?

BlackRock and Hashdex are the other two spot Ether ETF applicants vying for SEC approval.

It comes as the SEC reportedly started asking applicants to accelerate their 19b-4 filings on May 20.

The sudden change resulted in Seyffart and fellow Bloomberg ETF analyst Eric Balchunas raising their spot Ether ETF approval odds from 25% to 75%.

Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?

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