SEC asked for spot Ethereum According to sources, ETF applicants will update their 19b4 filings. This could lead to greater approvals.
Bloomberg ETF Analyst Eric Balchunas Say on May 20 It is possible that the SEC will not reject the current applications, as expected. Nate Geraci of ETF Store, the president of ETF Store, claimed that SEC would approve exchange listing rules 19-b4 while delaying its decision regarding S-1 registration statement.
James Seyffart Balchunas said that both he and Balchunas heard that multiple sources had informed them that new documents would appear in the near future.
FOX Business Reporter Eleanor Terret claimed that her sources had also confirmed The SEC told the issuers that they must update their 19b-4 documents. She had earlier said that this matter was a concern. “evolving in real-time.”
Bloomberg Odds at 75%
Balchunas & Seyffart have updated their odds of a Ethereum ETF spot approval from 25% to 30% to 75%.
Balchunas has also stated that this issue is now an important concern. “increasingly political issue,”A topic which has received a lot of attention over the course of this week.
On May 15, Coinbase Research Analyst David Han suggested that the US election year could influence the SEC’s decision. At the time, Balchunas called Han’s statements a “risk-free PR move”And said his own His reputation is at greater risk if he makes predictions.
Bankless founder Ryan Sean Adams, who agreed that politics could play a role in approvals around the time of the Coinbase report, supported Balchunas’ statements today. He responded:
“This is what political pressure during election years can do.”
Some commentators remain pessimistic. Ron Hammond is the Director of Government Affairs at Blockchain Association. said Many people believe that on May 20 the SEC is going to deny applicants based upon political indicators or comments made by issuers.
First deadline looms
The deadlines are approaching fast. SEC has to decide. VanEck’s On May 23, the proposal will be made for an ETH spot ETF, but that decision may affect multiple applications at once.
Based on bets backed by crypto, the prediction market Polymarket suggests that there is a 10% probability of a spot Ethereum ETF being approved before May’s end.
Recent developments have coincided with a sudden increase in the price of ETH. The price of Ethereum is up 20% over 24 hours, with most of those gains within two hours of Balchunas’ announcement. Bitcoin has increased by 5.2% over the past 24 hours. The cryptomarket is up 6.7%.
This post is about Bloomberg analysts revise ETH ETF approval odds to 75% amid rumors of SEC flip First on CryptoSlate.
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Source: cryptoslate.com