{"id":2005,"date":"2024-05-22T05:27:48","date_gmt":"2024-05-22T05:27:48","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-etf-issuers-amend-sec-forms-but-launches-may-take-months\/"},"modified":"2024-05-22T05:27:48","modified_gmt":"2024-05-22T05:27:48","slug":"ethereum-etf-issuers-amend-sec-forms-but-launches-may-take-months","status":"publish","type":"post","link":"https:\/\/cryptd.in\/uk\/ethereum-etf-issuers-amend-sec-forms-but-launches-may-take-months\/","title":{"rendered":"Ethereum ETF Issuers Amend SEC Forms, But Launches May Take Months"},"content":{"rendered":"

\u201cIt\u2019s happening,\u201d exclaimed Bloomberg ETF analyst James Seyffart on May 22 who added that at least five of the potential ETH ETF issuers have submitted their amended 19b-4s to the Securities and Exchange Commission a few hours ago.<\/p>\n

Fidelity, VanEck, Invesco Galaxy, Ark 21Shares, and Franklin all submitted amendments via the Chicago Board Options Exchange (CBOE).<\/p>\n

Grayscale<\/a> filed an updated 19b-4 for their Ethereum Mini Trust earlier in the day.<\/p>\n

UPDATE: It\u2019s happening. We have at least 5 of the potential #Ethereum<\/a> ETF issuers that have submitted their Amended 19b-4\u2019s in the last ~25 min.
\nFidelity, VanEck, Invesco\/Galaxy, Ark\/21Shares, & Franklin all submitted via CBOE. pic.twitter.com\/pHGt8iRWi8<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) May 21, 2024<\/a><\/p>\n\n

Not So Fast<\/h2>\n

The flurry of activity follows an advisory from the SEC to submit revised 19b-4 forms by May 21. A 19b-4 is a form filed by ETF issuers and exchanges proposing to change rules or introduce new products, in this case, spot Ethereum ETPs.<\/p>\n

May 23 is the first final deadline<\/a> for SEC approval or denial for the VanEck spot Ethereum ETF.<\/p>\n

It is still a potentially long way from a launch, said Seyffart before adding, \u201cThese filings prove that all of the rumors and speculation and chatter have been accurate.\u201d<\/p>\n

However, there needs to be SEC approval orders on all of the 19b-4s then the regulator needs to approve the S-1 applications, which could take \u201cweeks or more before ETFs launch,\u201d he said.<\/p>\n

\u201cSeeing broad misconceptions that \u2018approvals\u2019 mean immediate launches of the #Ethereum ETFs. This isn\u2019t necessarily the case. There will be days (at a minimum), likely at least weeks, and potentially months between approval and launches here.\u201d<\/p>\n

An S-1 is the initial registration form required for new securities offered to the public. They provide the SEC and potential investors with detailed information about the company\u2019s business operations and products.<\/p>\n

The major amendments submitted involved removing anything related to Ethereum staking from the ETF filings, which the SEC has vetoed for these products.<\/p>\n

If the issuers could stake the ETH in the funds, they could potentially offer investors greater returns but the regulator was having none of it, still asserting that Ether is a security.<\/p>\n

Seyffart maintained approval odds at 75% following an upgrade from 25%<\/a> earlier this week.<\/p>\n

\u201cAlso \u2014 Yes \u2014 our approval odds are still at 75%. Not that it even means anything anymore haha.\u201d<\/p>\n

Meanwhile, ETF Store President Nate Geraci did not think<\/a> that the last-minute SEC U-turn was politically motivated.<\/p>\n

ETH Price Outlook<\/h2>\n

Ethereum prices topped $3,800 on May 21 as ETF hopium heats up. The asset has held on to gains and was trading at $3,750 at the time of writing.<\/p>\n

ETH has made a whopping 31% over the past week, most of that coming in a single day.<\/p>\n

Bitcoin could not maintain gains, however, dipping below $70,000 during the Wednesday morning Asian trading session.<\/p>\n

\u041f\u043e\u0441\u0442 Ethereum ETF Issuers Amend SEC Forms, But Launches May Take Months<\/a> \u0432\u043f\u0435\u0440\u0448\u0435 \u0437'\u044f\u0432\u0438\u043b\u0430\u0441\u044f \u043d\u0430 CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u201cIt\u2019s happening,\u201d exclaimed Bloomberg ETF analyst James Seyffart on May 22 who added that at least five of the potential ETH ETF issuers have submitted their amended 19b-4s to the Securities and Exchange Commission a few hours ago. Fidelity, VanEck, Invesco Galaxy, Ark 21Shares, and Franklin all submitted amendments via the Chicago Board Options Exchange […]<\/p>\n","protected":false},"author":0,"featured_media":2006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[37],"class_list":["post-2005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-ethereum"],"yoast_head":"\nEthereum ETF Issuers Amend SEC Forms, But Launches May Take Months - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/uk\/ethereum-etf-issuers-amend-sec-forms-but-launches-may-take-months\/\" \/>\n<meta property=\"og:locale\" content=\"uk_UA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum ETF Issuers Amend SEC Forms, But Launches May Take Months - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"\u201cIt\u2019s happening,\u201d exclaimed Bloomberg ETF analyst James Seyffart on May 22 who added that at least five of the potential ETH ETF issuers have submitted their amended 19b-4s to the Securities and Exchange Commission a few hours ago. 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