The U.S. Securities and Exchange Commission (SEC) approved key regulatory documents related to Ethereum spot ETFs on Thursday (23rd) Eastern Time, namely the 19b-4 proposal submitted by Cboe, NYSE Arca and the Nasdaq Exchange. bringing the potential listing of these funds one step closer.
The three exchanges seeking to list VanEck, Ark Invest, BlackRock, Fidelity, Franklin Templeton, Bitwise, Grayscale and Invesco Ethereum spot ETF. However, investors must still wait for the SEC to approve the S-1 registration statement submitted by the fund issuer before they can begin trading such ETFs.
Bloomberg Intelligence analyst James Seyffart said on the X platform that they expect the approval of the S-1 filing may take a few weeks, but it may be longer, and there should be more news in a week or so.
Seyffart also added that usually this process takes several months, but he and another Bloomberg analyst Eric Balchunas believe it will be at least accelerated, with the Bitcoin ETF taking at least 90 days, and there will be more soon. Lots of news. Balchunas also speculated that “mid-June is definitely possible” based on the approval status of the Bitcoin ETF.
Matthew Sigel, head of digital asset research at VanEck, praised the SEC’s ruling in an article on Thursday, stating: “We believe the evidence clearly shows that ETH is a decentralized commodity and not a security.”
Sigel added:
“We expect this trend to pave the way for more victories through new laws and court victories, helping to attract investment in Bitcoin, Ethereum and other open source blockchain software.”
