As an experienced analyst, I’ve seen my fair share of regulatory twists and turns in the cryptocurrency space. The SEC’s sudden about-face on Ethereum ETFs is undoubtedly a game-changer, but we must remain cautious before getting carried away by the excitement.
Grayscale has filed an amendment version of its 19b-4 form for its Ethereum Mini Trust application
The leading cryptocurrency asset manager initially filed the form on Tuesday.
As a researcher, I came across an announcement today where Nasdaq disclosed the submission of an amended 19b-4 form for the Ethereum Exchange-Traded Fund (ETF) proposal spearheaded by BlackRock.
From my perspective as a researcher, I’ve come across some intriguing news from U.Today: The unexpected reversal by the US Securities and Exchange Commission (SEC) regarding Ethereum Exchange-Traded Funds (ETFs) left many experienced analysts perplexed.
Initially, Bloomberg ETF experts held the view that the SEC would likely reject these ETF products due to minimal interaction between the regulatory body and the potential issuers. However, recent developments have significantly increased the likelihood of approval. This shift in sentiment is attributed to widespread speculation regarding a potential change of heart from the SEC. Rumors circulated this week that the SEC had requested exchanges to update their 19b-4 forms, which many believe is an indication of impending approvals.
In addition to Grayscale and BlackRock, other prospective filers such as Fidelity, VanEck, and Franklin Templeton have made revisions to their applications.
Based on Charles Gasparino’s report for Fox Business, the SEC’s potential approval of Ethereum ETFs could represent a significant shift or reversal in their regulatory stance, making it one of the most noteworthy turns in the agency’s recent history.
A long way from launch?
As a researcher studying the cryptocurrency market, I’ve observed an intriguing development: following the SEC’s reversal of stance, Ethereum underwent a significant price surge. The increase reached over 20% within just one day.
James Seyffart, a well-known ETF analyst, has issued a warning to the cryptocurrency sector: the launch of Ethereum ETFs in the United States may still be a significant distance away.
On Tuesday, John Bollinger, a well-known trader, revealed that he had triggered a sell signal for Ethereum. He mentioned that the price movement had become extended.
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2024-05-22 21:32