As a researcher with experience in following the crypto market and SEC regulations closely, I believe that the approval of Spot Ethereum ETFs could still take weeks to months even if the SEC makes a decision on VanEck’s and Ark 21Shares’ 19b-4 filings by May 23 and 24, respectively. The reason being, the S-1 approvals are needed before these funds can go live.
As a Bloomberg analyst, I’ve shared my perspective on the potential timeline for the trading debut of Spot Ethereum Exchange-Traded Funds (ETFs) following a possible SEC approval. Based on my analysis, it may take anywhere from several weeks to a few months before these ETFs hit the markets, regardless of whether the approval is granted this week or later.
S-1 Filings Need To Be Approved Before Trading Can Commence
In a recent post on X, formerly known as Twitter, Seyffart explained that the Securities and Exchange Commission (SEC) approvals for S-1 are essential before Spot Ethereum Exchange-Traded Funds (ETFs) can be launched. He noted that it might take “weeks to months” for this approval process to be completed. It is important to clarify that Seyffart’s earlier mentioned 75% odds of approval only pertained to the deadlines for the 19b-4 filings, which are approaching on May 23 for VanEck and May 24 for Ark 21Shares.
As a researcher following the developments in the crypto space, I’ve come across the prediction made by Seyffart and Balchunas suggesting that the Securities and Exchange Commission (SEC) is likely to approve VanEck’s application for a Bitcoin exchange-traded fund (ETF) on or before May 23. Previously, there were indications that the SEC would reject these applications due to its perceived classification of Ethereum as a security. However, recent shifts in regulatory stance might change this outcome.
Balchunas disclosed in a recent X-post that the SEC’s stance on approving these funds had shifted due to political pressure. Previously, the SEC signaled its intent by instructing Nasdaq, CBOE, and NYSE to make necessary amendments to their filings.
As a researcher studying the developments in the crypto market, I’ve heard from industry insiders that the SEC’s feedback on the exchanged-traded fund (ETF) applications is a promising sign. This could indicate the regulatory body’s readiness to approve these investment funds. However, it’s important to note that the registration filings for Ethereum ETFs don’t have a set timeline for approval, and it might take several months before they start trading. Steven McClurg, who leads US asset management at CoinShares, shared this information with Reuters.
The SEC has the capability of granting approval for both 19b-4 and S-1 filings concurrently, as demonstrated in the case of Spot Bitcoin ETFs. Previously, the SEC engaged in regular dialogue with the issuers before giving the green light. Presently, the main distinction lies in the SEC’s communication pattern with the applicants prior to approval.
Fidelity And Grayscale Remove Staking Plans From Ethereum Spot ETFs
As a researcher studying the developments in the cryptocurrency industry, I’ve noticed that asset management firms Fidelity and Grayscale have recently dropped their plans for Ethereum (ETH) staking from their updated S1-filings. This decision comes as no surprise, given the ongoing speculation that the Securities and Exchange Commission (SEC) may classify ETH as a security due to its staking mechanism. The absence of this offering could indicate that these funds are taking steps to comply with potential SEC regulations and increase their chances of approval.
During Seyffart’s X post, they mentioned that the approval probability remained at 75% despite the anticipated elimination of staking proposals.
I’m currently observing Ethereum’s price at roughly $3,700 based on information provided by CoinMarketCap. In the past 24 hours, there has been a noteworthy increase of approximately 3%.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- AVAX PREDICTION. AVAX cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- DPLAT PREDICTION. DPLAT cryptocurrency
- USD CHF PREDICTION
- WOO PREDICTION. WOO cryptocurrency
- PHB PREDICTION. PHB cryptocurrency
- ARKM PREDICTION. ARKM cryptocurrency
2024-05-22 17:12