Ethereum surpasses $3900 amid anticipation of possible ETF launch
🇺🇸 The U.S. Securities and Exchange Commission (SEC) has begun discussing Form S-1 in applications for the registration of spot #EthereumETF . This is reported by The Block, citing sources.
👤 The insider added that he does not expect the approval process to be canceled but remains cautious.
📈 Amid the news, the price of Ethereum surpassed the $3900 mark. Over the week, the asset added 31.7%, 🤷 outperforming Bitcoin, which increased by only 5.6%.
👀 For full approval of an $ETH ETF, the regulator must first approve Form 19b-4, after which the registration statements on Form S-1 must take effect.
🗒 On May 20, the media reported that the agency asked potential issuers to update Form 19b-4. Today, May 23, is the deadline for considering requests from VanEck and #GRAYSCALE .
🕵️♂️ #Bloomberg exchange analyst Eric Balchunas suggested that the SEC might publish a notice around 4:00 PM GMT-4 (8:00 PM UTC).
