As a researcher with a background in financial markets and experience following regulatory developments in the crypto space, I find the recent news regarding the SEC’s request for updated S-1 filings from spot Ethereum ETF issuers intriguing. The swift action by the SEC following the approval of these ETFs last week is noteworthy.
According to insider sources, the Securities and Exchange Commission (SEC) in the United States has reportedly requested that Ethereum spot ETF applicants resubmit their S-1 filings by this coming Friday. It is important to note that the availability of these Ethereum spot ETFS for trading may take several weeks following the submission of updated filings.
SEC Seeks Updated S-1 Filing From Spot Ethererum ETF Issuers
As a crypto investor, I’ve been eagerly anticipating the submission of draft S-1 filings for the upcoming Ethereum Spot ETFs. According to my sources within the SEC, these filings are expected to be handed in by this coming Friday. The SEC’s recent approval of spot Ethereum ETFs took many by surprise last week, with experts speculating that this sudden change of heart might have been influenced by political pressure. After all, just a few days prior, it seemed the SEC was leaning against such filings following the rejection of Bitcoin Spot ETF proposals.
The revised S-1 document will be submitted in response to comments from the U.S. Securities and Exchange Commission (SEC). It is anticipated that there will be more modifications to the S-1 filing prior to the approval of Ether Exchange-Traded Funds (ETFs) for trading. According to industry insiders, the SEC may require Ether ETF issuers to undergo an additional two rounds of revisions before making a final determination on listing these funds.
As a researcher studying the Securities and Exchange Commission (SEC) and its recent regulatory actions, I’ve observed Nate Geraci, the host of ETF Prime Podcast, expressing his perspective on the situation: “The SEC is moving swiftly to make amendments following this announcement, but more adjustments are expected in due time.”
As an analyst, I’ve noticed some significant developments in the world of Ethereum Exchange-Traded Funds (ETFs). BlackRock, through its iShares division, has recently updated its S-1 filing for the iShares Ethereum Trust, indicating a strong intention to launch a spot Ethereum ETF. In contrast, Hashdex unexpectedly withdrew its proposal for a spot Ethereum ETF without disclosing any reasons.
ETH Market Reaction
According to Bloomberg analyst Eric Balchunas, the market response to Ethereum ETFs may not exhibit the same level of excitement as seen with spot Bitcoin ETFs.
As a researcher studying the Ethereum market, I’ve observed that the price experienced a noteworthy increase of approximately 1%, following the announcement of the SEC requesting an updated S-1 filing. This surge propelled the ETH price above the $3,800 mark. Throughout the past 24 hours, the lowest and highest points on the chart were recorded as $3,702 and $3,823 respectively. Notably, the trading volume has seen a significant decrease of around 20%, suggesting that recent buying activity may have originated from large investors or ‘whales’ in the cryptocurrency market.
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2024-05-30 21:34