Balchunas indicated hearing “chatter this afternoon that SEC could be doing a 180 on” spot Ethereum ETF applications. The SEC, which has been mostly silent on Ethereum ETFs, has been deliberating whether to classify ETH as a security or a commodity. This silence had previously been interpreted as a negative sign for ETF approval chances.
However, with a looming deadline for multiple ETF decisions on May 23rd and 24th, there is increasing pressure on the SEC to act. Balchunas referenced another tweet from Nate Geraci, a crypto ETF expert, explaining that the SEC must approve both the 19b-4s (exchange rule changes) and S-1s (registration statements) for ETFs to launch. Geraci suggested that the SEC could approve the 19b-4s first and take more time to scrutinize the S-1s, allowing for a more thorough review of the applications.
This…
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