Why did the Ethereum spot ETF not see a surge after it was approved? I think many people don't quite understand this question. Here is a brief introduction to the difference between the two documents:

The US SEC approved the 19b-4 documents of 8 Ethereum spot ETFs. This is a form used to inform the SEC of rule changes that allow ETFs to be traded on exchanges -

such as introducing new products, modifying trading mechanisms or other related exchange policies. Once submitted, the SEC will review the proposal and publicly solicit public opinions before deciding whether to approve it.

But the approval of the 19b-4 document does not mean that the ETF has been approved. Formal listing requires the ETF issuer to obtain the S-1 document approved by the SEC.

The S-1 document is a registration statement submitted by a company to the SEC for an initial public offering (IPO) or other securities issuance, including the listing of ETFs.

The S-1 document is not the last step, but it is a very critical step under the supervision of the US SEC!

Only after the SEC completes its review and approves the S-1 document, the S-1 document will take effect, and fund managers can continue to prepare for the official listing of the ETF, including determining the listing date and marketing.

In general, the approval of 19b-4 means that this thing is possible; after the approval of S-1, it is a done deal. Currently, this process takes about weeks to months, so the price will not rise sharply in a short period of time.

In addition, multiple spot Ethereum ETFs have been listed on the DTCC website, which is likely to be the script of#Bitcoinspot ETF!