“It’s happening,” exclaimed Bloomberg ETF analyst James Seyffart on May 22 who added that at least five of the potential ETH ETF issuers have submitted their amended 19b-4s to the Securities and Exchange Commission a few hours ago.The flurry of activity follows an advisory from the SEC to submit revised 19b-4 forms by May 21. A 19b-4 is a form filed by ETF issuers and exchanges proposing to change rules or introduce new products, in this case, spot Ethereum ETPs.
However, there needs to be SEC approval orders on all of the 19b-4s then the regulator needs to approve the S-1 applications, which could take “weeks or more before ETFs launch,” he said. An S-1 is the initial registration form required for new securities offered to the public. They provide the SEC and potential investors with detailed information about the company’s business operations and products.
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