The United States Securities and Exchange Commission (SEC) initiated discussions with potential issuers of Ether exchange-traded funds (ETFs) on May 22, leading to speculation about an imminent approval.
According to journalist Eleanor Terrett, talks between SEC staff and Ether ETF issuers regarding the S-1 forms concluded with the understanding that there is still work to be done. S-1 forms are registration statements that companies must file with the SEC, providing detailed information about the company and the securities they plan to offer or issue.
Meanwhile, 19b-4 forms are regulatory filings submitted to the SEC for approval. These forms are used by self-regulatory organizations like stock exchanges or trading platforms to propose new rules or make changes to existing ones.
Terrett, in a subsequent post, deferred to “the ETF experts” and speculated that if the SEC approves the 19b-4 forms on May 23, they might then collaborate with Ether ETF issuers on S-1 forms in the coming weeks or months.
Eric Balchunas, a senior ETF analyst at Bloomberg, expects the SEC to make an announcement on May 23, similar to the timing of the spot Bitcoin ETFs.
This development follows the approval of the FIT21 crypto bill in the U.S. House of Representatives, which passed on May 22 with support from 208 Republicans and 71 Democrats, while 136 were against it.
Joseph Lubin, CEO of Consensys, shared his thoughts on the potential approval of Ether ETFs. Speaking exclusively to Cointelegraph at DappCon in Berlin, Lubin expressed confidence that Ether ETFs in the U.S. were almost certain to be approved. He mentioned that high-profile firms like BlackRock have filed 19b-4 applications that are likely to be approved, but the process for the S-1 forms could take longer.
Lubin explained that pressure is being applied on the SEC to adopt a neutral stance as the upcoming U.S. presidential elections approach.
According to Daan Crypto Trades and X Hall of Flame, if Bitcoin doubles in value, Stacks will see a fourfold increase in 2025.