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24/05/24
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U.S. SEC Approves 19b-4 Filings of Proposal to List and Trade Spot Ether ETFs
The U.S. Securities and Exchange Commission (SEC) has approved the 19b-4 filings of issuers who applied to list and trade spot Ether exchange-traded funds (ETFs) in the U.S. The filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise for rule changes to allow ETFs were approved by the commission.
The landmark approval came as people were speculating that the SEC was considering whether to categorize ETH as a security. However, S-1 registration statements for the spot Ether ETFs must be signed off by the commission to completely approve them for trading.
According to analysts across the cryptocurrency industry, the S-1 registration statements may be signed off within days, weeks or even months. Reports had it that the commission asked the applicants to speed up their 19b-4 filings four days ago. The amended filings by the applicants did not include provisions for ETH staking.
However, the approval of the spot Ether ETF application from Hashdex was not announced by the commission, despite its final deadline being May 30. It remains unclear when the commission will eventually announce the approval of Hashdex’s ETF proposal.
The approvals come following members of the U.S. House of Representatives voting in favor of a bill aimed at providing more regulatory clarity to the crypto industry. Clarifying the roles of the U.S. SEC and Commodity Futures Trading Commission is among the objectives of the bill. The U.S. senate must pass the bill and the president needs to sign it to become law.
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