“It's happening”: Ethereum ETF approval imminent as issuers amend 19b-4 filings

James Seyffart, Bloomberg analyst x.com/JSeyff/status/1793039305125790105″ rel=”noopener nofollow noreferrer”>shared in x that the move to approve spot ethereum exchange-traded funds (ETFs) in the US “is happening.” According to Seyffart, at least five of the potential ethereum ETF issuers have filed their amended 19b-4s within a span of 25 minutes.

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UPDATE: It's happening. We have at least 5 of the potentials. twitter.com/hashtag/ethereum?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>#ethereum ETF issuers that have filed their amended 19b-4s in the last ~25 minutes.
Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares and Franklin filed through CBOE. pic.twitter.com/pHGt8iRWi8

-James Seyffart (@JSeyff) twitter.com/JSeyff/status/1793039305125790105?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>May 21, 2024

“Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares and Franklin submitted their data through CBOE,” he added. Form 19b-4 is one of the required documents that must be filed before the SEC can approve an ETF.

However, even with ethereum spot ETFs approved in the US, Seyffart x.com/JSeyff/status/1793016449616777514″ rel=”noopener nofollow noreferrer”>reflexes This does not mean an immediate launch. Notably, it may take up to months after the approval of ethereum ETFs before they can be officially traded.

“But these filings prove that all the rumors, speculation and talk have been accurate. We really need to see the SEC approval orders on all the 19b-4s AND THEN we need to see the S-1 approvals. It could be weeks or more before the ETFs launch.” x.com/JSeyff/status/1793043047367762405″ rel=”noopener nofollow noreferrer”>aggregate the Bloomberg analyst in another publication.

Probably a political decision.

Commenting on The Block ethereum-etf-pivot-entirely-political-source-says” rel=”noopener nofollow noreferrer”>article

James's colleague, Bloomberg ETF analyst Eric Balchunas, already He suggested this in a Monday x post, saying that rumors about the SEC's change of stance pointed to “political issues.”

Seyffart concludes his series of posts on x.com/JSeyff/status/1793041884874469681″ rel=”noopener nofollow noreferrer”>admitting that I was wrong about a timely approval of the ethereum ETF not happening this week, but so was the entire market.

It should be noted that, as reported According to crypto Briefing, even the most notable fund managers were not expecting a timely approval of the ethereum ETF in the US this week. Katherine Dowling, general counsel at ETF applicant Bitwise, said that “most people universally expect a disapproval order.” VanEck CEO Jan van Eck also predicted a likely denial during an interview with CNBC.