Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources

The U.S. Securities and Exchange Commission asked aspiring ether exchange-traded fund exchanges to update 19b-4 filings ahead of a key deadline this week.

That doesn't mean the ETFs will be authorized, though. Would-be issuers also need their S-1 applications approved before the products could begin trading. SEC could take an indefinite amount of time to approve the S-1 documents, one person familiar with the matter said, as it isn't tied to a deadline.

The SEC has been investigating whether ether, the chief native asset to the Ethereum blockchain, is a security, launching a formal inquiry after the network moved from a proof-of-work consensus mechanism to a proof-of-stake mechanism.

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