SEC and $ETH ETF Funds: Approval may be imminent
The US SEC has begun the approval process for the long-awaited Ethereum exchange-traded funds (ETFs). Discussions between potential Ethereum ETF issuers and the regulator are ongoing.
According to CoinTelegraph, reporter Eleanor Terrett reported that talks between SEC staff and Ether ETF issuers on S-1 forms ended with the understanding that there is still work to be done. S-1 forms are registration statements that companies must file with the SEC and include detailed information about the company and the securities they plan to offer. Forms 19b-4, however, are regulatory filings used by self-regulatory organizations such as stock exchanges to propose new rules or modify existing ones.
Terrett also cited ETF experts' opinions on the matter. If the SEC approves Forms 19b-4 on May 23, Terrett speculated that the SEC could work with Ethereum ETF issuers on Forms S-1s in the coming weeks or months.
Other analysts and cryptocurrency experts have made their predictions on when the US SEC might give a verdict on the approval of Ethereum ETFs. Eric Balchunas, Senior ETF Analyst at Bloomberg, expects the SEC to release an announcement on May 23, mirroring the timing of the Bitcoin ETF's approval.
This development follows the passage of a cryptocurrency bill in the US House of Representatives, which passed on May 22.
Consensys CEO Joseph Lubin said that in his opinion, Ethereum ETFs in the US are a virtual certainty, but the process behind the S-1 forms could delay approval.
The approval of a Bitcoin ETF in January brought a significant influx of money into the cryptocurrency sector, bolstering its legitimacy. The Ethereum ETF could push the price of Ethereum up to $10.000.
