The U.S. Securities and Exchange Commission appears poised to accept an eight-point Ethereum Etf after approval expectations were turned upside down overnight.
The agency simultaneously approved Form 19b-4 applications from #BlackRock , Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton and Invesco Galaxy.
Although the product has received near-full approval, the SEC must approve the registration documents for the S-1 companies before the tender offer can proceed.
Expectations for #ETF approval changed when authorities reportedly changed their views on filings and began following the process that preceded #bitcoin ETF approval.
Bloomberg analyst Eric Balchunas warns that #MemeWatch2024 ETFs are likely to trade for a few more weeks.
That doesn't mean they will start trading tomorrow. This is just a 19b-4 authorization. The S-1 document also needs to be approved, which is time-consuming. We expect that to take a few weeks, but it could take some time. We'll find more in a week or so! "
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