Spot

James

<p><em><strong>SEC requested all the spot Ether ETF applicants to update 19B-4 filings before the key deadlines.</strong></em></p> 
<p>The US <strong>Securities and Exchange Commission</strong> (SEC) is now actively participating in the <strong>spot Ether ETFs</strong> approval/disapproval process. After several postponements and delays, the SEC finally offered the exchanges final deadlines along with a request for a 19B-4 filings update.</p> 
<h2 class="wp-block-heading" id="strong-why-is-the-sec-requesting-a-19b-4-filing-update-strong"><strong>Why is the SEC Requesting a 19B-4 Filing Update?</strong></h2> 
<p>After announcing the final deadlines for <strong><a href="https://www.thecoinrepublic.com/2024/05/08/ethereum-price-slams-below-3k-amidst-grayscale-etf-withdrawal/" target="_blank" rel="noreferrer noopener">Spot Ether (ETH)</a> ETF</strong> approval and denial on May 23, the SEC requested all the exchanges to update their filings. Watcher.Guru took to X to announce SEC’s next move in the spot Ether ETFs process.&nbsp;&nbsp;&nbsp;</p> 
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> SEC asks exchanges to update 19B-4 filings on an accelerated basis for Spot Ethereum ETFs, CoinDesk reports.</p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1792656860379844875?ref_src=twsrc%5Etfw">May 20, 2024</a>
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<p>A 19B-4 is used by a self-regulated organization to inform the regulator about changes in its rules, it is mandated by the rule 19B-4 of the SEC act of 1934.&nbsp; In addition to this, it is also essential for the exchanges to get their S-1 applications approved before initiating trading.</p> 
<h3 class="wp-block-heading" id="strong-tentative-timetable-for-spot-ether-etf-approvals-strong"><strong>Tentative Timetable for Spot Ether ETF Approvals&nbsp;</strong></h3> 
<p>On Monday, the SEC announced May 23 as the final date for the <strong>spot Ether ETF </strong>decision. The news altered crypto analysts’ odds from 25% to 75%.</p> 
<p>“Things are taking a turn for the better on <strong>Spot Ether ETF</strong> approvals this week. Upping our odds to 75%,” said James Seyffart. In a recent tweet, Seyffart also revealed the list of all entrants along with the final deadline.&nbsp;&nbsp;&nbsp;</p> 
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  <p lang="en" dir="ltr">Here's a list of all entrants in the spot <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF race. The 'ETHness Stakes' <br><br>(h/t to <a href="https://twitter.com/LongTailFinance?ref_src=twsrc%5Etfw">@LongTailFinance</a> for the name) <a href="https://t.co/ZBQVJ6ppKp">pic.twitter.com/ZBQVJ6ppKp</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1792687202427965605?ref_src=twsrc%5Etfw">May 20, 2024</a>
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<p>According to Seyffart, the final deadline for <strong>VanEck</strong> is May 23 whereas <strong>21Shares &amp; ARK</strong> need to wait till May 24. In the same way, <strong>Hashdex and Grayscale</strong> may get a final decision on May 30. However, there are chances that <a href="https://www.thecoinrepublic.com/2024/05/08/grayscale-no-more-in-ethereum-futures-etf-race-whats-the-reason/" target="_blank" rel="noreferrer noopener">Grayscale </a>may face denial or delay.</p> 
<h3 class="wp-block-heading" id="strong-eth-etf-approval-anticipation-visible-on-eth-chart-strong"><strong>ETH ETF Approval Anticipation Visible on ETH Chart</strong></h3> 
<p>Regular updates and asks from the SEC’s end are making waves on the <strong>ETH price</strong> chart. ETH is bullish – spiked from $3,113.79 on May 20 to $3,665.04 at the press time.</p> 
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<p class="has-text-align-center">Ethereum Price I Source: CoinMarketCap</p> 
<p>In the past 7 days, ETH surged by 25.61% and held $440,411,935,414 in market cap. The sudden spike showcases the interest of traders in ETH and approval of <strong>spot Ether ETF </strong>would benefit the investors.&nbsp;&nbsp;&nbsp;&nbsp;</p>

SEC Asks Exchanges To Update Filing; Last Minute Decisions?

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