Ethereum

Spot

Spot Ethereum ETF odds got a much-needed boost after the U.S. Securities and Exchange Commission (SEC) staff told exchanges that it is “leaning toward approving” spot Ethereum ETFs, as per <a rel="nofollow" href="https://www.barrons.com/articles/sec-ether-etf-bitcoin-prices-ccd90624?redirect=amp" target="_blank">Barron’s</a>. Issuers including BlackRock, VanEck, and others earlier revealed that the SEC and its staff aren’t showing any interest in spot Ether ETFs, but the stance seems to have changed as the final decision looms on May 23. 
<h2 id="us-sec-leaning-towards-approving-spot-ether-etfs">US SEC Leaning Towards Approving Spot Ether ETFs</h2> 
The staff of the Securities and Exchange Commission (SEC) on Monday told exchanges that they are thinking about approving spot Ethereum ETF in the United States, according to people familiar with the matter. 
The regulator even provided comments on the applications that if resolved within time, it could result in approvals as soon as this week. VanEck and Ark Invest are first in line for the SEC’s decision on May 23 and May 24, respectively. 
Meanwhile, spot Ethereum ETF applicant <a href="https://coingape.com/breaking-fidelity-slashes-staking-for-ethereum-etf-in-latest-s-1-amendment/" target="_blank" rel="noopener">Fidelity</a> has amended its S-1 filing and removed the staking feature, potentially in guidance with the SEC. Bloomberg analysts have notably increased the probability of the SEC approving spot Ether ETF from 25% to 75%. 
In addition, <a href="https://coingape.com/breaking-grayscale-files-updated-19b-4-for-spot-ethereum-etf/" target="_blank" rel="noopener">Grayscale</a> has also submitted an updated 19b-4 form for its Ethereum Mini Trust, marking a critical step towards launching a spot Ethereum ETF. Bloomberg ETF analyst James Seyffart shared this update on X, highlighting the growing momentum in the cryptocurrency ETF space. 
<h2 id="exchanged-asked-to-update-applications-within-timeline">Exchanged Asked to Update Applications Within Timeline</h2> 
The U.S. SEC has asked Nasdaq and the Chicago Board Options Exchange (CBOE) for adjustments to their spot Ether ETF filings. As the deadline approaches, issuers and exchanges face pressure to update filings by 10:30 AM. 
With sentiment surrounding the approval of spot Ether ETFs rise, it has brought a major recovery in the broader crypto market. As per the order of events, Nate Geraci, the president of the ETF Store, highlighted that both the 19b-4 and S-1 need to be approved before any spot Ethereum ETF can go live. 
<a href="https://coingape.com/price/ethereum" target="_blank" rel="noopener">ETH price</a> jumped 22% in the past 24 hours, with the price currently trading at $3,741. The 24-hour low and high are $3,139 and $3,750, respectively. Furthermore, the trading volume has increased by over 300% in the last 24 hours, indicating a rise in interest among traders. 
Also Read:&nbsp; 
<ul> 
 <li><a title="Ripple SEC Lawsuit: SEC Opposes Sealing Details, “Ripple Will Largely Lose the Motion”" href="https://coingape.com/ripple-sec-lawsuit-sec-files-opposition-to-xrp-heres-everything/" target="_blank" rel="bookmark noopener">Ripple SEC Lawsuit: SEC Opposes Sealing Details, “Ripple Will Largely Lose the Motion”</a></li> 
 <li><a title="Aevo Price Soars Over 10% As Binance Discloses Key Investment, Is $1 Next?" href="https://coingape.com/aevo-price-soars-over-10-as-binance-discloses-key-investment-is-1-next/" target="_blank" rel="bookmark noopener">Aevo Price Soars Over 10% As Binance Discloses Key Investment, Is $1 Next?</a></li> 
 <li><a href="https://coingape.com/dogecoin-whale-shuffles-600m-doge-as-price-rallies-13-whats-next/" target="_blank" rel="noopener">Dogecoin Whale Shuffles 600M DOGE As Price Rallies 13%, What’s Next?</a></li> 
</ul> 
The post <a href="https://coingape.com/spot-ethereum-etf-coming-this-week-sec-leaning-towards-approving/">Breaking: Spot Ethereum ETF Coming This Week As SEC “Leaning Towards Approving”</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Spot Ethereum ETF Coming This Week As SEC “Leaning Towards Approving”

Table of Contents

Coingape News Media

Other articles published on May 21, 2024

Bitcoin Surpasses $71,000 Amid Spot ETF Surge

Why Ethereum Whales Are Buying These Memecoins

Top 3 Altcoins to Buy Before They Explode

Injective (INJ) Accelerates Token Burn, Gets Boost from Market Recovery

Insider trading claims over MAGA token sell-off debunked as MEV bot activity

Arcana Network is the Next Big Thing in Crypto! Here’s How

Join our free newsletter for daily crypto updates!