Five potential issuers of exchange-traded funds (ETFs) for Ethereum (ETH) have filed amended 19b-4 documents after receiving last-minute comments from the Securities and Exchange Commission.
The altered documents came from Fidelity, VanEck, Invesco, Galaxy, Ark 21Shares and Franklin Templeton, according to multiple documents.
The five deposits were made over a 25-minute period between 9:35 p.m. and 10:00 p.m. UTC on May 21, according to Bloomberg ETF analyst James Seyfart.
Seyphart reiterated that approved 19b-4 filings must be accompanied by signed S-1 registration statements in order to launch spot ETFs.
“There is still a long way to go before launch. He added: “But these recordings prove that all the rumors, speculation and conversations were accurate. »
The SEC must make a decision on VanEck’s request by May 23. However, industry experts point out that the regulator will decide on all or most applicants in the same way it treats Bitcoin (BTC) ETFs.
about: Spot Ether ETFs will be voted on by 5 people – Gensler decides?
BlackRock and Hashdex are the other contenders for SEC approval.
This comes as the SEC began requiring applicants to expedite their 19b-4 filings on May 20.
The surprise move led Seyffart and fellow Bloomberg ETF analyst Eric Balchunas to increase the ETF’s chances of immediate approval from 25% to 75%.
review: Cryptocurrency Regulation: Does SEC Chairman Gary Gensler Have the Final Say?
