The U.S. Securities and Exchange Commission (SEC) approved the crucial regulatory document related to Ether spot ETF on Thursday (23rd) in Eastern Time, namely the 19b-4 proposal submitted by Cboe, NYSE Arca, and Nasdaq exchanges, bringing the potential listing of these funds one step closer.
These three exchanges are seeking to list Ether spot ETFs from VanEck, Ark Invest, BlackRock, Fidelity, Franklin Templeton, Bitwise, Grayscale, and Invesco. However, investors still need to wait for the SEC’s approval of the S-1 registration statement submitted by the fund issuers before trading such ETFs can begin.
James Seyffart, an analyst at Bloomberg Intelligence, stated on the X platform that they expect the approval of the S-1 document to take several weeks, but it could also take longer. There should be more news in about a week.
Seyffart also added that normally this process takes several months, but he and another Bloomberg analyst, Eric Balchunas, believe that it will be expedited to some extent. Bitcoin ETF took at least 90 days, so there will be more news soon. Balchunas also speculated based on the approval status of Bitcoin ETF, saying that “mid-June is definitely possible.”
Matthew Sigel, Head of Digital Asset Research at VanEck, praised the SEC’s decision in an article on Thursday and pointed out, “We believe the evidence clearly shows that ETH is a decentralized commodity, not a security.”
Sigel added: “Source of information”
