Bloomberg: SEC will approve Ethereum spot ETF 19b-4 as soon as Wednesday! But there is still one key left to go to market

Ethereum has risen by nearly 20% in the past 12 hours, because Bloomberg ETF analyst Eric Balchunas uncharacteristically posted at 3:00 this morning (21st): "James Seyffart and I will Our probability of approval of the Ethereum spot ETF is increased to 75% (up from 25%).”

Analyst: 19b-4 will be approved as soon as Wednesday

At 7 o'clock this morning, Balchunas tweeted again: It is said that the SEC requires (the applicant agency) to submit the revised 19b- Form 4 has to be submitted by 10am tomorrow (based on the large number of comments just received today), and it could be approved as soon as Wednesday.

The publishers that are approaching the review deadline this time are VanEck, Ark/21Shares and Grayscale. The SEC needs to make final decisions on the 23rd, 24th and 30th respectively.

SEC or just approve one of the rules?

However, it should be noted that Balchunas and another Bloomberg analyst Seyffart later emphasized that what has a chance of passing on Wednesday is 19b-4 (change in exchange rules), S-1 (registration statement) It may not be approved so quickly.

“Quick note, @EricBalchunas and I are increasing the chance of spot #Ethereum ETF approval to 75%. But that’s against the May 23rd deadline for Rule 19b-4 ( @vaneck_us deadline ). We still need S-1 approval. It could be weeks to months before we see an S-1 approval and an actual Ethereum ETF, thanks @NateGeraci ”

Right. In this regard, ETFStore President Nate Geraci also issued a message yesterday: The SEC may approve 19b-4, but slow down the execution speed of S-1. The interval between the two may take weeks or even months, which technically delays the listing. schedule.

Ethereum surged 20%

Although the SEC’s final position has not yet been determined, the price of Ethereum surged sharply due to this news. According to Binance spot market data, after the news was released at 3 o'clock this morning, Ethereum rose by more than 6% from around US$3,150 in 15 minutes, and then surged all the way, reaching a maximum of US$3,721 at the time of writing, with an increase of nearly 20% in the past 12 hours. , currently quoted at $3,659.78.

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