Eric Balchunas, a well-known senior ETF analyst at Bloomberg , said early this morning (23rd) that we may arrive as soon as 4:00 pm New Jersey time (EST) on May 23, which is Friday, May 24, Taiwan time. Just before 4 a.m., I saw the U.S. Securities and Exchange Commission (SEC) approving the 19b-4 filing (exchange rule change) for the first Ethereum spot ETF.
He wrote in a tweet:
My best guess is that we will hear from the SEC tomorrow around 4pm (New Jersey time).
When they previously approved Bitcoin spot ETFs, they announced them at 3:45 pm, but in the past some have also announced them after 4 pm. Anything is possible.
Balchunas’ predictions are highly concerning because of his previous success in hitting the approval timeline for Bitcoin futures and spot ETFs. Another Bloomberg ETF analyst , James Seyffart , said he is "almost certain" that the SEC will formally approve the 19b-4 document before 6 pm ET tomorrow (6 am Taiwan time on Friday).
Fox Reporter: Tomorrow the SEC will approve the 19b-4 document for the Ethereum Spot ETF
Also believing that the SEC is expected to approve the 19b-4 filing tomorrow local time is Fox Business reporter Eleanor Terrett, who tweeted earlier today:
“I agree with the ETF experts, but this seems to suggest that maybe the SEC approves 19b-4 tomorrow and then works with issuers on S-1 filings (registration statements) over the next few weeks/months?”
It is worth noting that Terrett broke the news last night that she heard that the SEC has begun conversations about S-1, but SEC staff and issuers have concluded that there is still work to be done on these issues.
ETFStore President Nate Geraci said on Monday that the SEC is likely to approve 19b-4, but slow down the execution of S-1. It may still take a few weeks to a few weeks before we see S-1 approval and the official listing of the Ethereum spot ETF. months time.
Ethereum continues to fluctuate in the $3,700 range
This week, the SEC’s position on the adoption of Ethereum spot ETFs has reversed overnight . VanEck and Franklin’s Ethereum spot ETFs have been listed in the Depository and Clearing Corporation (DTCC), making the market more confident that the Ethereum spot ETF will be approved. The sharp increase in expectations also caused the price of ETH to jump more than 23% from US$3,110 to US$3,841 on the 21st.
This morning, with the good news that the SEC is expected to approve the Ethereum spot ETF 19b-4 filing tomorrow, ETH reached a maximum of nearly $3,780 and was trading at $3,762 at the time of writing.
