Cboe BZX, a prominent exchange, has made significant changes to the required forms for five spot Ethereum exchange-traded fund (ETF) proposals.
Cboe BZX, a prominent exchange, has made significant changes to the required forms for five spot Ethereum exchange-traded fund (ETF) proposals. Late on Tuesday, Cboe BZX submitted amended Form 19b-4s for the Franklin Ethereum Trust, Fidelity Ethereum Fund, VanEck Ethereum Trust, Invesco Galaxy Ethereum ETF, and the ARK 21Shares Ethereum ETF.
The exchange made these amendments in response to a request from the Securities and Exchange Commission (SEC) earlier this week. Form 19b-4s are crucial documents that inform the SEC about proposed rule changes, and they must receive approval from the agency before spot Ethereum ETFs can be implemented. However, S-1 registration statements will still need to be approved before the funds can commence trading.
According to Bloomberg ETF analyst James Seyffart, these amended filings validate the rumors surrounding the potential launch of ETFs. He pointed out that even though ETFs are not expected to launch immediately, the filings confirm the accuracy of the rumors. Seyffart emphasized the need for SEC approval orders on all the 19b-4s and subsequent S-1 approvals, which could take weeks or longer.
Following speculations of a surprise potential approval, the price of ETH has experienced a 2.40% increase in the past 24 hours, and 31.69% over the past week, trading at approximately $3,776.87.
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