The SEC is now backed into a corner. Unless he gives this approval, he will be under pressure. Don't be surprised if fake confirmations like Bitcoin come to the helm again. They have to do whatever they can to pave the way for the cryptocurrency market. Here is the detail;
On July 13, Nate Geraci, President of The ETF Store, stated on social media that the SEC was in the process of approving the 19b-4 application and was in something of a 'breath-taking' phase. Geraci expressed confidence that the SEC will approve the S-1 filing for the ETH spot ETF next week without further delay.
Bloomberg analyst Eric Balchunas also supported this view, stating that every issuer is prepared and the necessary documents are ready. Balchunas suggested that developments could progress rapidly next week.
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