(Special statement: The following information is collected by Phyrex. Lao Tang thinks it is useful for friends in the cryptocurrency circle, so he publishes it here!)
1. When will the#ETHspot ETF be announced?
Generally speaking, it will be between 2:00 and 4:00 a.m. on May 24th, Beijing time, but it is possible that it will be slightly delayed to 6:00 a.m.
2. Where can I view the information published by#ETHspot ETF?
The SEC’s official website is: sec.gov
Dedicated disclosure page: sec.gov/rules/sro/nati…
3. Will the#ETHspot ETF definitely pass?
Not necessarily. Nothing is 100% certain. At present, the possibility of passing 19b-4 first is very high. I personally think the probability is over 80%, or even higher. However, as long as there is no final conclusion, the probability of passing it is only 50%.
4. What is 19b-4 and what is S-1/S-3?
19b-4 can be regarded as an industry standard. When 19b-4 is passed, it means that the industry can operate, but it does not mean that the applied fund can be listed and traded. It must also meet the approval of S-1/S-3, which also requires SEC approval. S-1/S-3 is similar to corporate qualification approval. Only after approval can the business be engaged. In addition to Grayscale, which needs to apply for S-3, other institutions need to apply for S-1.
Will 5.19b-4 and S-1/S-3 be annotated at the same time?
It is possible. Currently, the possibility of 19b-4 approval alone is the highest, but it does not mean that S-1/S-3 will not be approved at the same time or at all. If only 19b-4 is approved, then#ETHspot ETF cannot be traded. S-1/S-3 must be approved at the same time. Currently, the longest approval time for S-3 is 260 days (if I remember correctly), and the shortest fund may need up to 3 months for S-1 approval. The shortest only takes one day.
6. Is it possible to pass only 19b-4 without passing all S-1/S-3?
This is possible, but the likelihood is very low, because S-1/S-3 are both corporate qualification documents, and it is difficult for them to be completely rejected. If there is content that needs to be supplemented, the SEC will require the company to supplement it, but there is indeed a possibility that individual institutions will not be approved, but they can still apply after rectification.
7. Is it possible to approve only one 19b-4, rather than all 19b-4s?
This is almost impossible. As mentioned before, 19b-4 is an industry standard. Although each company's is different, they are all similar and the basis is the same. Therefore, if it is passed, then it is likely that all that meet the requirements will be passed. This is the case with the 19b-4 that is currently being updated. Therefore, if one company passes, then unless there is a fundamental problem with one of them, it is likely that all will pass.
8. Is it possible that S-1/S-3 will pass in August with BlackRock?
Theoretically, it is not possible, but in reality it is possible, because once 19b-4 is passed, BlackRock's 19b-4 will also be approved, and there will be no final application by BlackRock in August. However, it does not rule out the possibility that the Federal Reserve will go crazy and have to approve 19b-4 one by one according to the final time. So although it is not possible in theory, it is still possible in reality.
9. Will#ETHspot ETF be less attractive without staking?
The answer is yes. With pledged#ETHspot ETF will be more attractive, there is no doubt about that. However, the lack of pledge itself is something that spot ETF institutions understand and recognize. With pledge, it can only be said that ETH is closer to securities, but the lack of pledge will not affect investors' purchases.
10. Will#ETHspot ETF not suck the blood of#BTCand#Bitcoinspot ETFs?
From a long-term perspective, no, ETH and BTC are two different products. BTC is more inclined to payment and collections, while ETH is more inclined to infrastructure. Using US stocks as a comparison, BTC is like the S&P, and ETH is like the Nasdaq. There is no conflict, and there will be no so-called bloodsucking. Competition is the best way to develop the market. But it cannot be denied that when the ETH spot ETF was just passed, there will be many speculators who make short-term profits, especially those who do short-term BTC trading.
11.If#ETHspot ETF is approved, what impact will it have on the market?
There will definitely be more positive impacts, which is good news in plain words. Especially after the ETH spot ETF is approved, it means that there is no so-called POS Token that cannot pass the approval of the spot ETF. In fact, it has nothing to do with POS itself, but the approval of ETH will give the market more ideas and will definitely inject more funds. For ETH itself, it can refer to the trend of BTC, and the difference will not be too big.
12. If#ETHspot ETF is approved, will it be a case of “one person’s success brings prosperity to the whole family”?
Sorry, the answer is no. In fact, the era of#BTChas already gone through it once. When the BTC spot ETF was passed, the inscriptions were very popular. As a result, there are almost no inscriptions now. The same is true for ETH. Investors buy ETH, not various tokens on ETH. Funds will only go directly into ETH. Of course, it does not rule out that there will be overflow funds on ETH's ALT. This is possible, but it is not a direct purchase by Wall Street.
13.If the#ETHspot ETF is approved, where will it be traded?
Currently available on COBE (Chicago Board of Exchange), NASDAQ and NYSE, just like the#BTCspot ETF.
14. Where can the passport of the Eastern power buy the US#ETHspot ETF?
You can buy it at @RockFlowApp
15.If#ETHspot ETF is approved, what will the price of ETH be?
I am not sure and I dare not say anything, but I think there will be no problem in breaking through the previous high of $4,800. But I am not sure whether it will reach that level immediately after passing through.
16. Will Grayscale’s ETHE crash?
If Grayscale's 19b-4 and S-3 are passed at the same time, and Grayscale's ETHE is transformed into a spot ETF, then it is indeed very likely that Grayscale ETHE users will sell their ETH, but this must be done after S-3 approval.
17.What will happen if#ETHspot ETF doesn't go through?
It will return to where it came from. $2,800 may not be able to be maintained, but after that, ETH is still a relatively undervalued asset and there is still the possibility of appreciation.
18. Will the approval of#ETHspot ETF accelerate regulators’ supervision of the crypto market, thereby affecting the decentralization of the market?
In fact, this has been the case since#BTCwas passed. There is almost no complete decentralization in this world, and if there is, it will be resisted.
19.If#ETHspot ETF is approved, will it extend the bull market?
In essence, it will only prolong the duration of ETH’s own bull market. This is the same as BTC. Other tokens still need to follow the large cycle of liquidity.
20.Is it too late to buy#ETHnow?
I said it when I was in #BTC, as long as you believe the ETF will pass, then there will be gains if you buy before it passes, it’s just a matter of how much.
21. After the#ETHspot ETF is approved, will there be Sell The News behavior like#BTCdid back then?
There is a high probability that it will happen, but the scale of Sell The News this time may not be larger than that of BTC. After all, from the current perspective, those who sold at that time lost more than 50%. Especially if 19b-4 and S-1/S-3 are approved separately, the probability of Sell The News will be lower.
22. Is#ETHspot ETF physically delivered like#BTCspot ETF?
Judging from the current documents, it is physical delivery, and it will be T+1. But in fact it is spot trading!
