📰 Table Of Contents
SEC Requirement for Ethereum ETF Filings
The U.S. Securities and Exchange Commission (SEC) has mandated exchanges to update their spot Ethereum exchange-traded fund (ETF) filings. This move involves filing new Form 19b-4 on an “accelerated basis” to notify the Commission of a proposed rule change.
Increased Approval Odds for Ethereum ETF
Analysts, including Bloomberg Intelligence ETF analyst Eric Balchunas and James Seyffart, have raised the odds of Ethereum ETF approval from 25% to 75%. This shift in prediction comes amidst the SEC’s potential approval of the second spot digital asset ETF in the United States.
Implications of Potential Approval
The ETF Store president Nate Geraci highlighted the necessity for SEC approval on various fronts to enable the launch of ETFs. While some in the crypto community anticipate approval, others like Balchunas view it as mere speculation.
Potential Shift in US Crypto Policy
Experts like Variant Fund Chief Legal Officer Jake Chervinsky suggest that an approved spot ETH ETF could signify a significant change in US crypto policy. This development, following the SAB 121 vote, might have broader implications beyond the ETF itself.
Seyffart echoed this sentiment, emphasizing the surprise factor associated with potential approval based on recent discussions in Washington, DC.
Future Outlook
Speculations arise regarding the Biden administration’s stance on crypto, especially if the ETFs receive approval. Former CFTC commissioner Chris Giancarlo’s remarks on Donald Trump being dubbed the “First Crypto President” add an interesting perspective to the evolving crypto landscape.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
