<\/p>\n
Five prospective spot Ether ETF issuers have amended their 19b-4 filings with the SEC.<\/p>\n
The Securities and Exchange Commission may still be several weeks away from derlivert a verdict on pending spot Ether ETFs applications after receiving a flurry of updated 19b-4 filings from prospective issuers.<\/p>\n
On May 21, James Seyffart, an ETF analyst at Bloomberg, flagged that the SEC has received five amended 19b-4 filings so far. Fidelity, VanEck, Franklin Templeton, Invesco and Galaxy, and Ark and 21Shares have all updated said filings, with Fidelity also submitting an amended S-1 filing on Monday.<\/p>\n
As such, Seyffart said the SEC is unlikely to deliver a decision on the filings come May 23 as previously expected, predicting the SEC won\u2019t issue a verdict until at least a few weeks time in light of the new filings.<\/p>\n
\u201cStill a potentially long way from a launch,\u201d Seyffart tweeted<\/a>. \u201cNeed to actually see SEC approval orders on all the 19b-4s AND THEN we need to see S-1 approvals. Could be weeks or more before ETFs launch.\u201d<\/p>\n On May 20, rumors that the SEC was directing spot Ether ETF hopefuls to revise their applications<\/a> sent the markets flying<\/a>, with the price of ETH up more than 17% since the news broke.<\/p>\n The reports followed widespread pessimism regarding the funds\u2019 prospects of approval amid apparent moves from Gary Gensler, the chair of the SEC, to classify Ether as a security<\/a>.<\/p>\n Notably, Seyffart said the updated filings removed mention of plans to stake underlying Ether held by the funds.<\/p>\n \u201cRemoving the staking language and adding very clear language that the Fund’s ETH cannot be staked by anyone\u2026 is the only meaningful and substantial change that I can find,\u201d Seyffart said.<\/p>\nStaking at stake<\/h2>\n