SEC informs exchanges that it leans towards approval of spot Ethereum The ETF according to A Barron report. The SEC changed its mind about the Ethereum fund’s future on Monday. They decided to accelerate the review of applicants documents.
Currently, ETFs can hold Ether Futures but with this approval, they will be able to own the actual currency. Yesterday the SEC asked that exchanges submit their updated 19B-4 forms for Spot Ethereum. The agency appears to be racing toward approval, possibly by Thursday’s deadline.
Furthermore, for the Ethereum ETFs to be approved, the SEC must approve the 19b-4s (exchange rule changes) & S-1s (registration statements). All ETFs will be likely approved at the same time, once both are approved. US regulators took time to approve Bitcoin-based ETFs.
Also Read: SEC Asks Exchanges To Update 19B-4 filings For Spot Ethereum ETFs
By Thursday, the 19b-4 form is expected to be approved. The market could be live as early as this coming week, if all is approved. SEC officials have not yet commented on reports that they may approve ETFs by this week.
Ethereum has risen 20% since the time of publication, and is now trading at $ 3,777.51. Only Bitcoin has a larger market cap.
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Source: watcher.guru