"Spot Ethereum ETF finally passed, trading may start in a few weeks"
The SEC officially approved the 19b-4 filings for eight spot Ethereum ETFs, including BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Investment, Invesco Galaxy, and Franklin Templeton. Although these ETFs have been approved by the 19b-4 document, the issuer cannot start trading until the S-1 registration statement becomes effective. The SEC is currently discussing the details of the Form S-1 with the issuer, a process that is expected to take several weeks.
James Seyffart said that the approval of the spot Ethereum ETF was issued through an authorized body, which means that no public committee vote is required, but any committee member can challenge it and request a review or vote. Nonetheless, these approvals are a done deal. Dissenting committee members may vote against it based on their opposition to a Bitcoin ETF. He also mentioned that while it was hoped that requesting a review would not change any decisions, it might provide more insight into the decision-making process over the past week, with the only possible reason being political.
Bloomberg ETF analyst James noted that typically this process takes several months, sometimes as long as five months. But Eric, another ETF analyst, believes the process may be accelerated this time.
In the past 24 hours, the entire network liquidated 363 million U.S. dollars, and the amount of ETH liquidated
Super BTC. Data shows that long positions were liquidated at US$262 million, and short orders were liquidated at US$100 million. The liquidation of BTC was US$70.2129 million, and the liquidation of ETH was US$137 million.
