The United States Securities and Exchange Commission (SEC) initiated discussions with potential issuers of spot Ether exchange-traded funds (ETFs) on May 22, sparking speculation of an imminent approval.
According to journalist Eleanor Terrett, talks between SEC staff and spot Ether (ETH) ETF issuers regarding the S-1 forms concluded with the understanding that there is still work to be done.
S-1 forms are registration statements that companies must file with the SEC, providing detailed information about the company and the securities they plan to offer or issue.
On the other hand, 19b-4 forms are regulatory filings submitted to the SEC for approval and are used by self-regulatory organizations (SROs) such as stock exchanges or trading platforms to propose new rules or modify existing ones.
In a subsequent post, Terrett deferred to the expertise of ETF analysts. Assuming that the SEC approves the 19b-4 forms on May 23, Terrett speculated that the SEC may collaborate with Ether ETF issuers on S-1 forms in the coming weeks or months.
Eric Balchunas, a senior ETF analyst at Bloomberg, anticipates that the SEC will announce its decision on May 23, similar to previous announcements regarding spot Bitcoin ETFs.
This development follows the approval of the FIT21 crypto bill in the U.S. House of Representatives, which was passed on May 22 with 208 Republicans and 71 Democrats in favor, and 136 against.
Consensys CEO Joseph Lubin recently shared his thoughts on the discussion surrounding potential Ether ETF approvals. Speaking exclusively to Cointelegraph at DappCon in Berlin, Lubin expressed confidence that Ether ETFs in the U.S. were close to being approved. He believed that the 19b-4 applications filed by prominent firms like BlackRock would receive approval, but the process for the S-1 forms may take longer.
Lubin explained that pressure is being exerted on the SEC to adopt a neutral stance as the upcoming U.S. presidential elections draw near.
Ethereum ETF Talks Underway at SEC, Anticipate S-1 Approval Within Hours