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The Expected Moment is Coming for Ethereum: SEC Started Negotiations!
The US Securities and Exchange Commission (SEC) has begun negotiations with issuers applying for Ethereum.
According to The Block, the SEC contacted the companies that prepared an S-1 file to establish a spot Ethereum ETF. Regarding the talks, an official said, “It is just beginning. It feels like [the SEC's Division of Investment Management] was caught off guard by the change in tone. That's why it's just getting started,” he said.
In order for Spot Ethereum ETFs to be established, the SEC must first approve the 19b-4 filings and then the S-1s.
Before approving these applications, the SEC generally provides feedback to the applicants and the files are updated and sent to the SEC.
Bloomberg ETF analyst Eric Balchunas expects the SEC to announce its decision on Ethereum ETFs around 23:00 today.