Franklin

Galaxy

<ul class="list-ic vertical">
 <li><span>1</span> <a>BlackRock, Grayscale, Fidelity, VanEck, Ark 21, Invesco/ Galaxy and Franklin have submitted their amended 19b-4s via CBOE.</a></li>
 <li><span>2</span> <a>VanEck has also listed its ETH ETF on DTCC on May 22.</a></li>
 <li><span>3</span> <a>Ethereum is experiencing a surge driven by the anticipation around the approval of ETH ETF, as the final decision is due in a day.</a></li>
</ul>
<p>On May 22, 2024, with all the buzz going around the approval of<strong> ETH ETF</strong>, all the<strong> ETH ETF </strong>applicants, including <strong>BlackRock, Grayscale, Fidelity, VanEck, Ark 21, Invesco/ Galaxy and Franklin</strong>, submitted their amended form 19b-4 to the SEC. Ahead of spot ETF approval, all the applicants are doing their best to immediately list their instruments on the exchanges.</p>
<p>The applicants have submitted these amendments after receiving a last-minute amendment request from the Securities and Exchange Commission.</p>
<h2 class="wp-block-heading" id="strong-19b-4-amendments-strong"><strong>19b-4 Amendments</strong></h2>
<p>The majority of the amendments issued had a similar change, highlighting the removal of staking rewards. Moreover, the amendment document states all the major guidelines for the respective spot ETH ETF, including trading halts, trading rules and surveillance.</p>
<h3 class="wp-block-heading" id="strong-invesco-galaxy-strong"><strong>Invesco/ Galaxy</strong></h3>
<p>The amendment document compares the performance of <strong>futures ETH ETF</strong> products of the sponsor and expects similar growth from the <strong>spot ETH ETF</strong>.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="517" height="573" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-281.png" alt="" class="wp-image-206521" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-281.png 517w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-281-271x300.png 271w" sizes="(max-width: 517px) 100vw, 517px">
 </figure>
</div>
<p class="has-text-align-center">Source: cboe.com, 19b-4, Invesco</p>
<p>The above image shows the growth in volume and open interest in ETH futures products.</p>
<p>The <strong>Galaxy/ Invesco</strong> filed for their <strong>ETH ETF</strong> in December 2023 and were expecting a final approval decision in July, which is subject to approval of <strong>spot ETH ETF</strong> by the SEC. The <a href="https://www.thecoinrepublic.com/2024/01/17/amendments-in-eu-regulations-will-bring-changes-to-ml-and-tf/" target="_blank" rel="noopener noreferrer nofollow">amendment </a>was filed on May 21.</p>
<h3 class="wp-block-heading" id="strong-fidelity-ethereum-etf-strong"><strong>Fidelity Ethereum ETF</strong></h3>
<p>The 19b-4 amendment filing highlighted a perfect correlation between <strong>ETH spot</strong> and the <strong>CME ETH futures</strong> price based on historical data. It will be interesting to observe how the correlation will change after the launch of<strong> ETFs on spot Ethereum.</strong></p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="679" height="385" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-280.png" alt="" class="wp-image-206520" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-280.png 679w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-280-300x170.png 300w" sizes="(max-width: 679px) 100vw, 679px">
 </figure>
</div>
<p class="has-text-align-center">Source: cboe.com, Fidelity Form 19b-4</p>
<p><strong>Fidelity</strong> has submitted two amendments to date. The first amendment was filed on March 18, while the second amendment was filed on May 21.</p>
<h3 class="wp-block-heading" id="strong-ark-21-shares-eth-etf-strong"><strong>Ark 21 shares ETH ETF</strong></h3>
<p>The sponsor filed for the <strong>spot ETH ETF</strong> in September 2023, which was amended by the first amendment filed in February 2024. The final or second amendment was filed on May 21 to clarify certain trading and listing details and add additional required details to the proposal.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="890" height="382" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-279.png" alt="" class="wp-image-206519" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-279.png 890w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-279-300x129.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-279-768x330.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-279-750x322.png 750w" sizes="(max-width: 890px) 100vw, 890px">
 </figure>
</div>
<p class="has-text-align-center">Source: CBOE.com, Form 19b-4, Ark 21</p>
<h3 class="wp-block-heading" id="strong-vaneck-ethereum-etf-ethv-strong"><strong>VanEck Ethereum ETF (ETHV)</strong></h3>
<p>The sponsor also officially filed for the <strong>ETH ETF</strong> in September 2023 and the first amendment was filed in February 2024 and the second amendment was filed on May 21.</p>
<p>Moreover, <strong>VanEck ETH ETF</strong> has been listed on<strong> DTCC</strong> to get listed on the exchanges immediately after the approval, as the final approval decision is scheduled for May 23.&nbsp;</p>
<figure class="wp-block-table aligncenter">
 <table>
  <tbody>
   <tr>
    <td>Trading Symbol</td>
    <td>Trading<br>CUSIP</td>
    <td>ETF Security Description</td>
    <td>ETF Agent</td>
    <td>Foreign (F)/ Domestic (D)</td>
    <td>Create/ Redeem</td>
   </tr>
   <tr>
    <td>ETHV</td>
    <td>92189L103</td>
    <td>VANECK ETHEREUM TR SHS</td>
    <td>2950</td>
    <td>D</td>
    <td>N</td>
   </tr>
  </tbody>
 </table>
</figure>
<p class="has-text-align-center">Source: DTCC.com</p>
<h3 class="wp-block-heading" id="strong-grayscale-eth-strong"><strong>Grayscale ETH</strong></h3>
<p>The <strong>Grayscale</strong> filed the first amendment in March and the second amendment in May.</p>
<p>Other applicants have also filed their amendments prior to the final approval of the <strong>ETH ETF</strong>. The <strong>approval of ETF</strong> is expected to boost the prices in the market and is building a positive outlook in the market for the supported altcoins.</p>
<p>At press time, <strong>Ethereum</strong> was trading at $3,740, 1.50% up in the 24 hours sustaining the surge, which occurred with the increase in probability of approval of<strong> ETH ETF </strong>from 25% to 75%.</p>

All ETH ETF Applicants Filed Amendment 19b-4 With SEC Via CBOE

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