According to news reports, companies looking to list and trade shares of a spot Ethereum exchange-traded fund are being asked by the U.S. Securities and Exchange Commission to update and resubmit important documents if the product is approved.
These filings, called Form 19b-4s, are filed to notify the SEC of proposed rule changes and are one of the documents that require the agency’s approval before spot ether ETFs can go into effect.
The SEC’s Trading and Markets Division told asset managers Monday to amend their filings and resubmit the amendments. wall street journal The report cited people familiar with the matter. CoinDesk It also reported that exchanges are being asked to update their 19b-4 filings “at a rapid pace.”
The outlook for the spot ether ETF has taken a more optimistic turn. Bloomberg ETF analysts James Seyffart and Eric Balchunas now say: opportunity The percentage of SECs approving such products increased from 25% to 75%.
When There Was a Spot Bitcoin ETF Approved Earlier this year, the SEC approved Form 19b-4, which requires an issuer’s registration statement to be valid to begin trading.
“We do not comment on individual filings,” an SEC spokesperson told The Block.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. She was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.