HomeEthereumDiscussions on SEC Ethereum ETF in Progress, Approval of S-1 Expected Shortly

Discussions on SEC Ethereum ETF in Progress, Approval of S-1 Expected Shortly

-


SEC Begins Discussions with Potential Issuers of Spot Ether ETFs, Approval Anticipated

The United States Securities and Exchange Commission (SEC) is in discussions with potential issuers of spot Ether exchange-traded funds (ETFs), sparking anticipation of imminent approval. Journalist Eleanor Terrett reported that discussions between SEC staff and spot Ether (ETH) ETF issuers about the S-1 forms concluded with the understanding that there was still “work to do.”

S-1 forms are registration statements that companies have to file with the SEC, including detailed information about the company and the securities they intend to offer or issue. On the other hand, 19b-4 forms are regulatory filings issued to the SEC for approval and are used by self-regulatory organizations (SROs) like stock exchanges or trading platforms to propose new rules or change existing ones.

Eric Balchunas, a senior ETF analyst at Bloomberg, expects the SEC to issue an announcement on May 23 at around the same time it did for the spot Bitcoin ETFs. This development follows the approval of the FIT21 crypto bill in the U.S. House of Representatives, which passed on May 22 with 208 Republicans and 71 Democrats in favor to 136 against.

Consensys CEO Joseph Lubin weighed in on the discussion, stating that Ether ETFs in the U.S. were “as good as done.” According to Lubin, the 19b-4 applications filed by high-profile firms like BlackRock would be approved, but the process behind the S-1s “could drag on for a while.” The Ethereum co-founder explained that pressure toward adopting a neutral stance is being applied to the SEC as the upcoming U.S. presidential elections approach.

With the potential approval of spot Ether ETFs on the horizon, the cryptocurrency market eagerly awaits the SEC’s decision and the impact it may have on the industry. Stay tuned for updates as this story continues to develop.

LATEST POSTS

Binance.US is ‘Ready’ as SEC Lawsuit Progresses

Binance.US Prepared to Face SEC Lawsuit, Vows to Continue Legal Battle Binance.US Ready to Face SEC in Legal Battle Crypto exchange Binance.US is gearing up for...

Maincard.io Debuts on TON Blockchain, Transforming the World of Sports Betting

Maincard.io Launches on TON Blockchain: Revolutionizing Web3 Sports Fantasy Gaming Maincard.io, the leading Web3 sports fantasy card game, has made a groundbreaking move by officially...

Bitfarms’ June Bitcoin mining output increases by 21% compared to previous month, reaching 189 bitcoins

Bitfarms Mining Operations Thrive Amid Hostile Takeover Battle Bitfarms, a leading cryptocurrency mining company, is facing a hostile takeover attempt from Riot Platforms as it...

The enduring positive correlation between bitcoin and stocks

Cryptocurrency Outlook and Expert Insights: Bitcoin Stability, Ethereum Gains, and Political Influence Bitcoin (BTC-USD) has been on a rollercoaster ride in recent months, but it...

Most Popular