All Eyes on SEC: Will They Approve VanEck’s Spot Ethereum ETF?
How It will Impact on Crypto Market?
Hey there, folks!
we're all eagerly waiting on the edge of our seats for the big verdict on the Ethereum Exchange-Traded Fund (ETF). VanEck’s up first on May 23, with Ark 21Shares following closely on May 24. Exciting times, right?
This decision isn’t just about VanEck and Ark 21Shares. It’s a pivotal moment that could shape the fate of several other hopefuls, including Hashdex, Grayscale, Invesco Galaxy, BlackRock, and Fidelity, all eagerly awaiting their regulatory fate.
Regulatory Hurdles
SEC must approve both the 19b-4s (exchange rule changes) & S-1s (registration statements) for ETFs to launch.
SEC Form 19b-4: This form is used by covered self-regulatory organizations (SROs) to record a rule change with the SEC.
Form S-1: This is the registration statement that the Securities and Exchange Commission (SEC) requires domestic issuers to file in order to publicly offer new securities. Issuers file S-1s for initial public offerings (IPOs) and follow-on offerings of new securities.
Market Sentiment and Expectations
Coinbase expects a 30% to 40% chance of spot ETH ETF approval by month-end.
Bearish News: If the ETF gets rejected by the SEC, it might not have a significant impact, as it could already be priced into the market.
Surprise Approval: However, if it gets approved unexpectedly, it could have a substantial impact on the market.
For a more detailed insight into this topic, click here to dive deeper into the discussion.
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