Ethereum

Spot

<ul>
 <li>The revised application makes it clear that the ETF’s underlying Ether tokens will not be staked.&nbsp;</li>
 <li>The SEC’s judgment on VanEck’s Spot Ethereum ETF proposal is due on May 23.</li>
</ul>
For its proposed Spot Ethereum ETF, <a href="https://thenewscrypto.com/fidelitys-spot-bitcoin-etf-sees-first-net-outflows-since-debut/" target="_blank" rel="noopener noreferrer nofollow">Fidelity</a> has filed a revised S-1 filing with the SEC in the US. This news comes as speculation about these ETFs’ possible clearance on May 23 continues to heat up. Also, it might increase the likelihood that Ether ETFs would be approved.
The revised application makes it clear that the ETF’s underlying Ether tokens will not be staked. The regulatory and security consequences of staking actions have been addressed by this step. To set the scene, before launching U.S. publicly listed securities, one must file the S-1 registration form with the <a href="https://thenewscrypto.com/spot-ethereum-etf-decision-looms-as-secs-deadline-draws-near/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>. That is why it guarantees openness and conformity with rules set by the Fed.
<h3 class="wp-block-heading" id="h-higher-probability-of-approval">Higher Probability of Approval</h3>
The SEC’s position on Spot Ethereum ETFs has been questioned recently, leading to this modification. It is said that the SEC’s stance has been affected by political influences. Consequently, the SEC has requested that issuers update their 19b-4 filings, which describe the proposed ETFs’ operational and procedural details.
The SEC’s judgment on VanEck’s Spot Ethereum ETF proposal is due on May 23, marking the next major milestone in this regulatory process. The market’s attitude towards these ETFs’ acceptance has also changed significantly.
Thus, Bloomberg’s senior ETF analyst <a href="https://twitter.com/EricBalchunas?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener noreferrer nofollow">Eric Balchunas</a> has significantly raised the chances of approval to 75% from 25%, that the SEC would approve the <a href="https://www.investopedia.com/terms/s/sec-form-19b-4.asp" target="_blank" rel="noopener noreferrer nofollow">19b-4</a> form for these products. The increasing trust among investors in the SEC’s approval of Spot Ethereum ETFs is reflected in this heightened optimism.
In addition, Fidelity’s most recent move suggests a good conclusion, since doing away with the staking option may sway the SEC’s judgment in their favor.&nbsp;
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Fidelity Revises S-1 Filing for Spot Ethereum ETF, Removes Staking

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TheNewsCrypto

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