【Why didn’t Ethereum rise after the ETF passed the 19b-4 document? 】

At 5 a.m. on May 25, the approval of the 19b-4 document means that an important step has been successfully taken for the Ethereum spot ETF. What remains is to wait for the approval of the agency’s S-1 document and the official press release of the SEC! Looking forward to the arrival of this good news.

This move eliminates a key obstacle to the trading of spot Ethereum ETFs in the United States, but the official listing may take several weeks. The U.S. Securities and Exchange Commission (SEC) approved the plans of the New York Stock Exchange, the Chicago Board Options Exchange (Cboe) and Nasdaq for spot Ethereum ETFs. This move eliminates a key obstacle to Ethereum spot trading in the United States, but the SEC has not yet issued a full approval for the spot Ethereum ETF and still needs to approve the issuer’s plan. It is reported that the SEC has approved the 19b-4 forms of multiple spot Ethereum ETFs, including those of BlackRock, Fidelity and Grayscale. Although these forms have been approved, ETF issuers need to wait until their S-1 registration statements take effect before they can start trading. The SEC has only recently started talking to issuers about their S-1 forms, and it is unclear how long the process will take. That is, now, issuers need separate approval from regulators, and no deadline has been set for that decision. It should be noted that the SEC approved the 19b-4 form for the Ethereum spot ETF, which involves the product's trading rules, listing standards, and fee structure. Next, major issuers still need to wait for their specific ETF listing plans to be approved, that is, the S-1 registration statement will take effect, before officially stating that "Ethereum spot ETF has been approved for listing."

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