#灰度 has just updated their 19b-4 form.

19b-4 is one of the many links before #ETF is approved.

In theory, this form is for some "self-regulatory organizations" to report to #SEC . Of course, although these "self-regulatory organizations" are not part of the government, they are very official.

This 19b-4 form needs to be made public. After these institutions submit it to the SEC, it can be found on the SEC's official website in theory.

This time ETH rose in response, and many people including James, Eric and others also received information that the SEC asked everyone to update the 19b-4 form, so the pass rate forecast was raised to 75%.

PS: Why is this a good signal? If the SEC does not want you to pass at all, it is not necessary to ask you to change this form.

According to the process of the last #BTC ETF, after this form is approved, the S-1 form must be approved next, and the S-1 form is much more important.

The S-1 form is roughly equivalent to the listing application form, and 19b-4 can be understood as a pre-emptive action.

PS: Of course, Grayscale also needs to use the S-3 form, because it is not a new asset listing, but an old financial product (that is, the current ETF trust that only allows inflows and outflows) to be listed as an ETF.