According to a report from “The Block,” the U.S. Securities and Exchange Commission (SEC) has begun discussions with potential issuers of Ether spot ETFs regarding S-1 registration statements. When asked about the conversations related to the S-1 form, a senior executive from one issuer stated that recent regulatory developments have made the market increasingly optimistic about the approval of Ether spot ETFs, leading to a 20% rebound in the price of Ether over the past three days. The sources added that they do not believe progress on Ether ETFs will be halted but remain cautious.
To approve an Ether ETF, the SEC must first approve the 19b-4 form (approval for Bitcoin ETFs was done through a comprehensive order), and then the S-1 registration statement must become effective before trading can begin. Typically, these forms are returned for revisions and resubmitted before each approval. Only Fidelity has recently submitted a revised S-1 form, and the 19b-4 forms have undergone multiple changes. With discussions now starting regarding the S-1, more revisions may occur.
The SEC has set the “final decision date” for VanEck’s Ether spot ETF application on May 23. Bloomberg’s senior ETF analyst, Eric Balchunas, speculated earlier on the X platform that the SEC might release news about Ether spot ETFs around 4 p.m. Eastern Time on Thursday.
Related reports: “Market Expert: Cancellation of Pledge Plan by Ether Spot ETF Issuers May Reduce Attractiveness of Such Funds” and “Ether Spot ETF Application by VanEck Listed on DTCC, Ticker Symbol ETHV.”
