Bloomberg senior ETF analyst Eric Balchunas tweeted this morning, revealing that the U.S. Securities and Exchange Commission (SEC) may approve the 19b-4 filing for the first Ethereum spot ETF as early as 4 am on Friday, May 24th, Taiwan time.
Summary:
Strong! Ethereum at $3,700, institutions, analysts predict ETH’s future?
Background:
What is an Ethereum spot ETF? Differences from futures, investment methods, advantages and disadvantages, issuance methods… complete analysis.
Prominent Bloomberg senior ETF analyst Eric Balchunas stated early this morning that the 19b-4 filing (exchange rule change) for the first Ethereum spot ETF approved by the U.S. Securities and Exchange Commission (SEC) may be seen as early as 4 pm on May 23rd, U.S. New Jersey time (EST), or 4 am on Friday, May 24th, Taiwan time.
In his tweet, he wrote:
Balchunas’ prediction has garnered significant attention due to his previous successful predictions of the approval timeline for Bitcoin futures and spot ETFs. Another Bloomberg ETF analyst, James Seyffart, stated that he is “almost certain” that the SEC will officially approve the 19b-4 filing before 6 pm Eastern Time tomorrow (6 am Friday morning Taiwan time).
Source: Eric Balchunas Twitter
Fox reporter: SEC to approve Ethereum spot ETF’s 19b-4 filing tomorrow
Fox Business reporter Eleanor Terrett also believes that there is a possibility of the SEC approving the 19b-4 filing tomorrow, local time. In a tweet earlier today, she pointed out:
It is worth noting that Terrett revealed last night that she heard that the SEC has started discussions regarding S-1 filings, but the conclusion reached by SEC officials and issuers is that there is still work to be done on these issues.
Nate Geraci, President of ETFStore, stated on Monday that the SEC may approve the 19b-4 filing but slow down the execution speed of S-1 filings. It may still take several weeks to months before we see the approval of S-1 and the official listing of the Ethereum spot ETF.
Source: Eleanor Terrett Twitter
Ethereum continues to oscillate in the $3,700 range
This week, the SEC’s stance on approving Ethereum spot ETFs reversed overnight. VanEck and Franklin’s Ethereum spot ETFs have been listed in the Depository Trust & Clearing Corporation (DTCC), significantly increasing market expectations for the approval of Ethereum spot ETFs. This also caused the price of ETH to skyrocket by over 23% from $3,110 to $3,841 on the 21st.
This morning, with the positive news of the SEC’s potential approval of the 19b-4 filing for the Ethereum spot ETF, ETH reached a high of nearly $3,780, reporting $3,762 before the article was written.
Source: Trading View
Related Reports:
Standard Chartered: SEC to approve Ethereum spot ETF this week, BTC to reach new historical highs over the weekend.
SEC denies Ethereum spot ETF pledge? Grayscale, Fidelity, Ark… consecutive cancellations of ETH pledge plans.
Leak: Biden as a young voter for Web3 forces SEC to change Ethereum ETF policy.
Zhu Su from Three Arrows: If Ethereum spot ETF is approved, ETH could reach $5,400, Bitcoin surges to $80,000.