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

MonkeyBit.io — Creating the Future of Social Gaming on the Blockchain

Introducing MonkeyBit.io: Revolutionizing Decentralized Social Gaming Blockchain MonkeyBit.io is revolutionizing the world of social gaming with its innovative decentralized blockchain platform. Combining Web3 technology with...

Bitcoin miners invest millions in AI business, aiming for billions in profits

Core Scientific Expands AI Business with $3.5 Billion Deal Bitcoin miner Core Scientific is making waves in the tech industry with its recent announcement to...

Ethereum Excitement Grows with Introduction of New ETF Proposals

ETF Investing Tools: Ethereum Fever Rises with New Fund Applications and Proposed ETFs Ethereum Fever Rises as Companies Submit Applications for New ETFs Ethereum fever has...

Biden’s Veto Upholds Bank Crypto Custody Blocker Despite SAB 121 Cancellation – Ledger Insights

President Biden's Veto of SAB 121 Resolution: Negative Impact on Banks but Limited Political Consequences President Biden's recent veto of the SAB 121 resolution has...

Most Popular