According to a report cited by The Block, the U.S. Securities and Exchange Commission (SEC) has begun discussions with potential issuers of Ethereum spot ETFs regarding the S-1 registration statement.
When asked about the conversations related to the S-1 form, a senior executive of a certain issuer stated: Recent regulatory developments have made the market increasingly optimistic about SEC approval of Ethereum spot ETFs, with the price of Ethereum rebounding by about 20% in the past three days.
Sources added that they do not believe progress on Ethereum ETFs will be halted, but they remain cautious.
To approve an Ethereum ETF, the SEC must first approve the 19b-4 form (Bitcoin ETF approval was done in a comprehensive order), and then the S-1 registration statement must become effective before trading can commence.
Before each approval, these forms are usually sent back for revisions and resubmission. When the final version is submitted, the SEC may choose to approve them. These 19b-4 forms have undergone multiple changes, with only Fidelity recently submitting a revised S-1 form. With discussions on the S-1 now underway, more revisions may emerge.
The “final decision date” for the VanEck Ethereum spot ETF application is set for May 23, and Bloomberg senior ETF analyst Eric Balchunas earlier suggested on the X platform that he speculates the SEC will release news about Ethereum spot ETFs around 4 pm ET on Thursday.
Related reports: “Market experts: Cancellation of collateral plan by Ethereum spot ETF issuers may reduce attractiveness of such funds” and “Ethereum spot ETF applied for by VanEck already listed on DTCC, stock code ETHV.”