{"id":20920,"date":"2024-05-21T09:11:58","date_gmt":"2024-05-21T06:11:58","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20920"},"modified":"2024-05-21T09:11:58","modified_gmt":"2024-05-21T06:11:58","slug":"sec-requests-urgent-updates-to-spot-ether-etf-filings","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-requests-urgent-updates-to-spot-ether-etf-filings\/","title":{"rendered":"SEC Requests Urgent Updates to Spot Ether ETF Filings"},"content":{"rendered":"<p>Regulators are suddenly requesting that exchanges seeking to list and sell shares in spot <strong>ether <\/strong>(ETH) exchange-traded funds revise important paperwork pertaining to these products.<\/p>\n<p>Three sources familiar with the matter informed CoinDesk that the U.S. Securities and Exchange Commission is requesting rapid updates on <a href=\"https:\/\/www.investopedia.com\/terms\/s\/sec-form-19b-4.asp\">19b-4 filings<\/a>, indicating they may be moving to accept these applications ahead of a crucial deadline this Thursday.<\/p>\n<p>That does not, however, imply that the <strong>ETFs<\/strong> will be allowed. Before the instruments could start trading, prospective issuers also needed their S-1 applications accepted. One source with knowledge of the situation noted that because SEC is not subject to a deadline, it may take an endless period of time to approve the S-1 paperwork.<\/p>\n<p>A person familiar with the subject said that one company in discussions with the SEC believes that it might be on the right track for approval, in contrast to feeling some weeks ago that the SEC was dragging its heels.<\/p>\n<p>After learning of rumors that the SEC would be viewing the applications more favorably, Bloomberg Intelligence <strong>ETF<\/strong> analysts Eric Balchunas and James Seyffart increased their odds for the approval of a spot <strong>ETF<\/strong> to 75% from 25% on Monday.<\/p>\n<p>Later on, they clarified that the odds were connected to the 19b-4 approvals. On May 23, the SEC is supposed to decide on VanEck spot <strong>ether ETF<\/strong>.<\/p>\n<p>Since the <strong>Ethereum<\/strong> blockchain switched from a proof-of-work consensus process to a proof-of-stake mechanism, the SEC has been formally looking into whether <strong>ether<\/strong>, the main native asset, is a security.<\/p>\n<p>If the SEC might reject the spot <strong>ether ETF<\/strong> filings is if it decides that <strong>ether<\/strong> is a security.<\/p>\n<p>One test of the agency&#8217;s opinion on ETH&#8217;s security status has just surfaced at Prometheum. Monday saw the special purpose broker declare the soft launch of its <strong>ether<\/strong> custody service. In due course, the business plans to introduce custody and trading services for other digital assets, particularly those that are regarded as securities rather than commodities in the United States.<\/p>\n<p><span style=\"color: #0000ff;\"><em>Related: <a style=\"color: #0000ff;\" href=\"https:\/\/coinengineer.net\/blog\/sec-ether-etf-odds-low-potential-high-for-surprise\/\">SEC Ether ETF: Odds Low, Potential High for Surprise<\/a><\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regulators are suddenly requesting that exchanges seeking to list and sell shares in spot ether (ETH) exchange-traded funds revise important paperwork pertaining to these products. Three sources familiar with the matter informed CoinDesk that the U.S. Securities and Exchange Commission is requesting rapid updates on 19b-4 filings, indicating they may be moving to accept these<\/p>\n","protected":false},"author":6,"featured_media":20921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5423,6248],"class_list":["post-20920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ether-etf","tag-sec-ether-etf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Requests Urgent Updates to Spot Ether ETF Filings - Coin Engineer<\/title>\n<meta name=\"description\" content=\"SEC requests exchanges update spot Ether ETF filings quickly ahead of Thursday&#039;s deadline. 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