1 year ago
Bloomberg ETF expert James Seyffart expects much spot Ethereum ETFs to beryllium filed successful the coming days.
The contention for the United States’ archetypal spot Ethereum exchange-traded money has officially begun aft new 19b-4 filings by the Chicago Board Options Exchange (CBOE), which volition "ultimately commencement the clock" for an SEC decision.
On Sept. 6, the CBOE filed 2 19b-4 applications to the United States securities regulator, requesting for the ARK 21Shares Ethereum ETF and VanEck Ethereum ETF concern products to beryllium listed connected CBOE’s BZX Exchange.
In a bid of tweets, Bloomberg ETF expert James Seyffart noted that arsenic opposed to the previously submitted S-1 filings, the 19b-4 filings mean that the countdown for a determination by the SEC is present successful motion.
“The Spot #Ethereum ETF Race is officially on,” Seyffart declared, estimating a last deadline astir May 23, 2024.
The Spot #Ethereum ETF Race is officially on. It's aboriginal but i'd estimation a last deadline connected these applications to beryllium astir ~May 23, 2024.
Notably, we didn't spot a VanEck spot Ethereum ETF S-1 from VanEck earlier due to the fact that they filed for this happening each the mode backmost successful 2021!! pic.twitter.com/jLve8PpPrE
A 19b-4 signifier is filed by self-regulatory organizations — specified arsenic a banal speech — to petition a regularisation alteration to the U.S. Securities and Exchange Commission, portion an S-1 filing lone indicates a firm’s volition to database a peculiar concern merchandise connected a nationalist exchange.
The securities regulator is present obligated to reappraisal the 19b-4 filings and marque a decision, though the SEC tin besides hold the determination arsenic it has for spot Bitcoin ETFs.
ARK Invest and 21Shares teamed up to file an S-1 to the SEC connected Sept. 6, though VanEck’s S-1 filing dates backmost to July 2021.
Late to the party? We filed our S-1 for a Spot Ether ETF backmost connected 5/7/2021. https://t.co/hYE6TG90Q3
— VanEck (@vaneck_us) September 6, 2023Meanwhile, Seyffart expects much spot Ethereum ETF filings to travel successful the coming days.
How agelong earlier we spot a 19b-4 from @Grayscale to person $ETHE into an ETF? https://t.co/078sm9FNlF pic.twitter.com/pzSEcMrtZB
— James Seyffart (@JSeyff) September 6, 2023Related: Ether ETFs pending — Grayscale, VanEck and others record SEC applications
On Aug. 17, the securities regulator reportedly signaling its volition to approve Ethereum Futures concern products portion respective firms including Grayscale Investments and BlackRock are presently warring to get a spot Bitcoin ETF approved.
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