Ethereum

Franklin

James

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bloomberg’s James Seyffart reports that there are at least 5 potential Ethereum ETF issuers who submitted amended applications.</li>
 <li>Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton were all submitted via CBOE.</li>
</ul>
The US SEC’s final decisions on applications by VanEck and Ark Invest are due this Thursday, May 23, and Friday, May 24 respectively.
Recent events have revealed that investors are currently reconsidering the chances of Ethereum seeing a green light for ETF applications.
The SEC has reportedly requested document updates from potential ETF issuers and exchanges.
A few hours ago, Bloomberg’s <a href="https://x.com/JSeyff" rel="noopener noreferrer nofollow" target="_blank">James Seyffart </a>posted via his X account that there are at least five of the potential Ethereum ETF issuers who have already submitted their amended applications via CBOE.
The firms are Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin Templeton.
<blockquote class="twitter-tweet">
 UPDATE: It’s happening. We have at least 5 of the potential <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Ethereum</a> ETF issuers that have submitted their Amended 19b-4’s in the last ~25 min. Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, &amp; Franklin all submitted via CBOE. <a href="https://t.co/pHGt8iRWi8" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/pHGt8iRWi8</a>
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1793039305125790105?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 21, 2024</a>
</blockquote>
However, Seyffart continued and said that the crypto products might still be a long way from a launch. On the other hand, these filings are proof that all of the rumors and speculation about the issue have been accurate.
He continued and <a href="https://x.com/JSeyff/status/1793043047367762405" rel="noopener noreferrer nofollow" target="_blank">wrote</a> that we still need to actually see the SEC approval ordered on all the 19b-4s and after that, we need to see the actual S-1 approvals. Seyffart notes that it could be weeks before the Ethereum ETFs launch.
<h2 id="ethereum-etfs-approval-odds-remain-at-75">Ethereum ETFs’ approval odds remain at 75%</h2>
Syeffart also <a href="https://x.com/JSeyff/status/1793061065665687893" rel="noopener noreferrer nofollow" target="_blank">posted</a> a message, saying that the Bloomberg approval odds for the crypto products remain at 75%.
On May 20, Bloomberg’s Eric Balchunas, together with Seyffart, <a href="https://crypto.ro/en/news/ethereum-price-surges-to-3600-as-eth-etf-approval-chance-rises-to-75/" rel="noopener noreferrer nofollow">raised the odds</a> for the approval of Ethereum ETFs from 25% to 75%, highlighting that the reason could reportedly involve political pressure.
Recently, the crypto industry marked<a href="https://crypto.ro/en/news/us-senate-passes-legislation-overturning-secs-rule-on-bitcoin-custody/" rel="noopener noreferrer nofollow">&nbsp;an important win</a>&nbsp;when on May 16, the Senate passed legislation H.J.Res. 109 that would overturn the SEC’s Staff Accounting Bulletin (SAB) no. 121 that was set to prevent highly regulated financial firms from holding Bitcoin and crypto in custody.
This was a move that injected hope into the crypto industry and its future in the US.
The approval of Ethereum ETFs this week is still surrounded by optimism. Standard Chartered Bank&nbsp;Head of FX Research and Digital Assets Research&nbsp;Geoff Kendrick&nbsp;revealed that it is expecting the US SEC to approve Ethereum ETFs this week, triggering inflows between<a href="https://crypto.ro/en/news/ethereum-etfs-approval-to-trigger-up-to-45b-inflows-in-first-12-months/" rel="noopener noreferrer nofollow"> $15B and $45B</a> in the first 12 months.

5 Ethereum ETF Issuers Submitted Amended Applications, Approval Odds Still At 75%

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