Ethereum

SEC Asks Exchanges to Update 19B-4 Filings for Spot Ethereum ETFs

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6 months ago

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SEC Now Asks Exchanges to Update Their 19B-4 Filings for Their Spot Ethereum AND F. According to a Coinbase Report, the SEC abruptly requires exchanges interested in ETH ETFs to update their filings on an expedited basis. This suggests that the SEC could decide to approve ETF applications before an important deadline this Thursday.

This is huge news for the future of Ethereum, indicating that it may soon follow in Bitcoin’s footsteps by creating its own ETF. However, before ETFs can go live, applicants will also need to have their S-1 applications approved. The SEC previously insisted on delaying its decision on Bitcoin and Ethereum ETFs. However, reports on Monday morning indicated a potential rapid change of heart from the regulator. Today, the approval process for Ethereum ETFs is accelerating, as we may soon see Ethereum ETFs in the market.

How long until Ethereum ETFs hit the market?

For Ethereum ETFs to be approved, the SEC must approve both 19b-4 (exchange rule changes) and S-1 (registration statements). Only once both are approved will we see the first ETH ETFs on the market.

Also read: Ethereum ETF approval chances increase from 25% to 75%: Bloomberg

For context, Ethereum-based exchange-traded funds (ETFs) are a type of investment fund that holds assets such as stocks, commodities, or cryptocurrencies. ETFs trade on exchanges similar to stocks. In January 2024, the first cryptocurrency ETFs were approved for Bitcoin, the leading cryptocurrency by market capitalization. Shortly before and after this SEC approval, applications for Ethereum exchange-traded funds flooded in.

The news is particularly bullish for Ethereum, which is up more than 11% at press time over the past 24 hours to $3,413.17. After the approval of ETH ETFs, Ethereum could skyrocket similarly to Bitcoin when the BTC ETF was approved in January. Additionally, the approval of Spot Ethereum ETFs could also generate more buzz in the overall cryptocurrency market. Having two crypto-based ETFs available on exchanges will be huge for crypto innovation and popularity with investors.



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