🚀🎉 "It's happening!" says Bloomberg ETF analyst James Seyffart, as at least five potential Ethereum ETF issuers, including Fidelity, VanEck, Invesco Galaxy, Ark 21Shares, and Franklin, have submitted their amended 19b-4s to the SEC. But hold your horses! 🐎🛑 It's not all smooth sailing from here.

The SEC has advised issuers to submit revised 19b-4 forms, which propose changes to rules or introduce new products. In this case, it's spot Ethereum ETPs. However, Seyffart warns that there's still a long road ahead. 🚧🏁

"Approvals don't mean immediate launches," Seyffart clarifies. The SEC still needs to approve all the 19b-4s and the S-1 applications, which could take "weeks or more before ETFs launch." 😅⏳

The major amendments submitted involved removing anything related to Ethereum staking from the ETF filings, which the SEC has vetoed. Seyffart maintains approval odds at 75% following an upgrade from 25% earlier this week. 📈🎲

Meanwhile, Ethereum prices topped $3,800 on May 21 as ETF excitement heats up. Bitcoin, however, couldn't maintain gains, dipping below $70,000. But hey, as BTC enthusiasts, we're still optimistic! 🚀💪

Please note that this news is about Ethereum, not Bitcoin. However, the potential approval of Ethereum ETFs could have significant implications for the broader cryptocurrency market, including Bitcoin.