BlackRock files updated documents for Ethereum spot ETF, approval to be determined at 4 a.m. tomorrow?
Financial giant BlackRock submitted a 19b-4 amendment document through its partnered exchange Nasdaq yesterday, which also removed the possibility of Ethereum staking. Bloomberg ETF analyst Eric Balchunas believes that in the best-case scenario, we will receive news from the U.S. Securities and Exchange Commission (SEC) around 4 p.m. Taiwan time on 5/24 (around 4 a.m. Taiwan time).
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BlackRock Also Submits 19b-4 Update
Following the revised 19b-4 filings by five Ethereum spot ETF issuers through the CBOE exchange yesterday, the highly anticipated BlackRock's submission through its partner exchange Nasdaq has also been made, which notably removes the possibility of Ethereum staking.
Furthermore, Grayscale's ETHE and Ethereum Trust, along with Bitwise, have also submitted related documents.
With ETF issuers rushing to submit documents, is there a chance for Ethereum spot ETF approval on 5/23?
The Moment of Truth Tomorrow Morning?
Bloomberg ETF analyst Eric Balchunas tweeted that in the best-case scenario,
we will receive news from the U.S. Securities and Exchange Commission (SEC) around 4 p.m. tomorrow!
Compared to previous Bitcoin spot ETFs, the SEC released approval documents at 3:50 p.m. New Jersey time, which is 3:50 a.m. Taiwan time, and other cases were after 4 p.m.
According to Fox Business reporter Eleanor Terrett, discussions regarding the S-1 have already begun between SEC staff and issuers, with "work to be done" on these issues.
Summary of Various ETFs
The table below summarizes the data of nine major issuers who have applied, excluding Grayscale's Ethereum Trust. In the past two days, three exchanges - Cboe BZX, Nasdaq, and NYSE Arca - have submitted revised 19b-4 forms. According to Coinbase's analysis, Ethereum staking will be a key factor for approval, and all parties have removed staking conditions in their updated documents.
Coinbase: Ethereum spot ETF approval hinges on staking, SEC will not approve all at once
