Today we have a summary of ETF-related issues for ETH Ethereum. Where are our opportunities?
1️⃣
When will the ETH spot ETF be announced?
The maximum frequency is between 2:00 and 4:00 Beijing time on May 24, and the possibility of delay to 6:00 in the morning is not ruled out.
2️⃣
Will the#ETHspot ETF definitely pass?
Not necessarily. In fact, no one has passed 100%. At present, the possibility of passing 19b-4 first will be greater. Ni Da believes that the probability is more than 80%, or even higher, but the probability of passing a day without a final conclusion is only 50%.
3️⃣
Before opening the Q&A, it is necessary to introduce the two key documents S-1 and 19 B-4 for whether the Ethereum spot ETF can be approved. S-1 Form
The S-1 form is a registration statement that the ETF issuer must submit to the SEC. S-1 is just a form of the registration statement, which is mainly to ensure that the ETF is registered in accordance with the Securities Law, especially for newly issued ETFs.
The registration statement in Form S-1 usually includes the fund's investment fund objectives, strategies and risks; information about the manager; background of the portfolio manager; details of fees and expenses; and composition of the portfolio.
Total review time for Form S-1: The entire process usually takes 60 to 120 days. Form 19 B -4
If the ETF plans to be listed on an exchange, the issuer needs to submit Form 19b-4 to the SEC through the exchange. The form is submitted by the exchange and contains a proposal for changes to the listing rules and a statement of purpose, which is to obtain SEC approval so that the ETF can be traded on that exchange. Form 19B-4 mainly involves the full content of the rules; the purpose and reasons for the changes; an assessment of the impact on the market and investors; and an opportunity for public comment.
The SEC can supplement Form 19B-4 three times, with a total duration ranging from 90 days to half a year.
Combining the introduction of the two documents, the two submission entities are different. The S-1 registration statement is submitted by the ETF issuer to the SEC, while Form 19B-4 is submitted by the exchange. From this, we can see that 19B-4 is the access document that allows the ETF to be listed on the exchange, while the S-1 registration statement is the introduction of the ETF.
4️⃣
Is May 24 still a key node for the Ethereum spot ETF?
Judging from the final approval time of the 19 B-4 form of the Ethereum spot ETF, VanEck is the first issuer to submit the 19 B-4 form to the SEC. After three extensions, Beijing May 24 is its final node resolution.
From the approval node of the UK Bitcoin spot ETF, January 10th is the final approval time of BlackRock's 19B-4 document, and the SEC approved the remaining 10 Bitcoin spot ETFs on January 10th.
Therefore, if we take the Bitcoin spot ETF as an example, Beijing May 24th is indeed the key node for the approval of the Ethereum spot ETF. When the SEC approves the relevant ETFs, it will not select individual ETFs to pass, and there is a high probability that they will be approved at the same time. This point has been introduced in the UAE about Bitcoin spot ETF.
But it is worth noting that May 24th, Beijing time, is the final approval time for the 19 B-4 form. According to the previous article, there is also an S-1 registration statement that needs to be passed first.
Therefore, relevant institutions in the market believe that the SEC may first pass the 1 9B-4 form, and then delay the approval time in the S-1 registration statement.
5️⃣
If the#ETHspot ETF is passed, what impact will it have on the market?
It must be more positive, which is good news in human terms. Especially after the ETH spot ETF is passed, it means that there is no so-called bridge that POS Token cannot pass the spot ETF. In fact, it has nothing to do with POS.
However, the passage of ETH has given the market more ideas, and it will inevitably inject more funds. For ETH itself, it can refer to the trend of BTC, and there will not be a big difference.
6️⃣
Will Grayscale's ETHE crash the market?
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 Grayscale ETHE users will indeed sell their ETH at the earliest, but they must follow the S-3 approval.
7️⃣
If#ETHspot ETF is passed, will it not extend the bull market? In essence, it will only extend the bull market of ETH itself. This is the same as BTC. Other tokens still need to follow the big cycle of liquidity.
8️⃣
If#ETHspot ETF is passed, what opportunities do we have? Without a doubt, the Ethereum Ecosystem will recommend some tokens that I am optimistic about: • $OP - OP Stacks provides universal development • $ARB - King of L2 • $LDO - Strict Liquidity Pledge • $RSTK - Re-pledge Record • $SSV - Pledge Infrastructure • $ETC - No need to introduce the old army • $PENDLE - Simplified income trading • $LBR - A strong stablecoin backed by LSD income • $OGV - Low market value LSDfi with $100 million TVL • $SNX - Deep liquidity provision protocol • $ENS - Ethereum original chain • $PEPE - The largest meme on Ethereum • $MKR - Major ecosystems include DeFi, RWA, etc. • $BLUR - Best NFT trading platform • $ENA $EHTFI - Rookie double E combination, stablecoin, re-pledge
