The U.S. Securities and Exchange Commission (SEC) has taken a groundbreaking step by approving all 19b-4 applications for Ethereum spot ETFs from eight prominent companies.
This decision marks a significant milestone, allowing these ETFs to be listed and traded on major U.S. stock exchanges. With the official trading start date still pending further approvals, this move has ignited high hopes and keen anticipation for the imminent launch of Ethereum spot ETFs.
Discover the implications of this approval and what it means for the future of Ethereum investments in the U.S.
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Approval of 19b-4 Applications for Ethereum Spot ETFs
On May 24, 2024, the U.S. Securities and Exchange Commission (SEC) announced the approval of all 19b-4 applications for Ethereum spot ETFs submitted by eight companies.
The "19b-4" is a proposal document for rule changes to allow ETFs to be traded on stock exchanges. With this approval, the spot-type Ethereum ETFs submitted by these eight companies can now be listed and traded on stock exchanges.
However, to begin actual trading of the Ethereum spot ETFs, the approval of the "S-1" document, which includes detailed information on the ETF's structure, investment objectives, management methods, risk factors, and fees, is necessary.
Therefore, it may take a few days to several months before the official start of trading.
Although the official trading start date for the Ethereum spot ETFs is still unknown, this approval significantly increases the likelihood of launching Ethereum spot ETFs in the U.S., raising expectations for future developments and further detailed announcements.
Approved Ethereum ETFs and Their Listings
The Ethereum spot ETFs approved this time are from the following eight companies: "Grayscale, Bitwise, BlackRock, VanEck, ARK 21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton." The names of the ETFs and their listing destinations are reported as follows:
| ETF Name | Listing Exchange |
|---|---|
| Grayscale Ethereum Trust | NYSE Arca |
| Bitwise Ethereum ETF | NYSE Arca |
| iShares Ethereum Trust | Nasdaq |
| VanEck Ethereum Trust | Cboe BZX |
| ARK 21Shares Ethereum ETF | Cboe BZX |
| Invesco Galaxy Ethereum ETF | Cboe BZX |
| Fidelity Ethereum Fund | Cboe BZX |
| Franklin Ethereum ETF | Cboe BZX |
Background of the Ethereum Spot ETF Approval
Recently, it was reported that the SEC had suddenly required Ethereum spot ETF applicants to update their "19b-4 documents," and it was later confirmed that the eight companies had actually submitted revised documents with wording related to staking.
There were also rumors that the SEC might make a 180-degree policy shift and approve Ethereum spot ETFs.
Some opinions suggest that this shift might be influenced by political factors related to the upcoming U.S. presidential election in November 2024.
It is speculated that the SEC is moving toward approval to avoid a drop in support for the Biden administration if the Ethereum spot ETFs were not approved.
Donald Trump stated on May 9 that "cryptocurrency supporters should vote for Donald Trump," indicating his intention to stop the Biden administration's hostile stance towards cryptocurrencies.
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Rumors of Ethereum Spot ETF Were True | Five Companies Submit "Revised Documents"
Ethereum Spot ETF rumors turn out to be true as five companies submit revised documents to the SEC. Learn more about the potential approval and its implications.
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