š„š„š„ JUST IN! Allegedly, #SEC is Preparing to Approve Spot #Ethereum ETFs !
According to Reuters, the US Securities and Exchange Commission (SEC) has requested corrections to the spot #EthereumETF filings from NASDAQ and CBOE, indicating a possible approval of these applications.
Sources informed Reuters that the SEC might be ready to approve ETH ETFs. The SEC asked Nasdaq and CBOE on Monday to amend their applications for spot ETH ETFs, a sign that the regulatory body may be leaning towards approval, according to three individuals familiar with the process.
The SEC is expected to decide on the applications filed by CBOE to list Ethereum ETFs from VanEck and $ARK Investments/21Shares by May 23-24.
Unlike the detailed discussions held with exchanges and issuers for Bitcoin ETFs, the SEC had not engaged in similar conversations for Ethereum ETFs, leading some industry executives to anticipate a negative outcome.
However, in a surprising development on Monday, SEC officials requested Nasdaq and CBOE to promptly update and amend their filings. Experts believe such requests for changes often precede approval.
For ETH ETFs to commence trading, exchanges must approve both the S-1 applications of the issuing companies and the 19b-4 applications. Experts noted that, unlike exchange applications, there is no specific deadline for the SEC to decide on S-1 applications. This means it could still take several months before Ethereum ETFs start trading.
*This is not investment advice.
