Bittime - The United States Securities and Exchange Commission (SEC) is asking issuers of spot Ethereum ETFs to submit updated S-1 forms. Even if approved, the ETF listing process will still take weeks.
The United States Securities and Exchange Commission (SEC) is reportedly asking issuers of spot Ethereum ETFs to submit updated S-1 forms by Friday. It is estimated that Ether ETF trading will only be possible several weeks after the S-1 update is complete.
Previously, the SEC approved spot Ether ETFs last week after form 19b-4 was filed, following the SEC's sudden decision in favor of spot Ether ETFs. Experts believe this decision occurred due to political pressure.
Also read: Ripple Injects $25 Million Donation to Support Crypto Advocacy Fairshake PAC in 2024
The ETF application process is still long
According to sources familiar with the SEC's communications with the issuers, they were asked to submit draft S-1 forms by Friday. SEC approval of the Ether spot ETF occurs after form 19b-4 is filed. This decision follows a last-minute change in SEC interest influenced by political pressure according to experts.
Also read: UMA Coin Price Prediction (UMA) 2024-2030: Will Explode in the Next 6 Years
Check Today's Crypto Market:
The updated Form S-1 will be analyzed by the SEC and will likely undergo several more revisions before the spot Ether ETF can finally be traded. Experts estimate that the SEC may require the issuer to make two additional revisions before a final decision on the listing is issued.
Market Response and ETF Players
Nate Geraci, host of the ETF Prime Podcast, said, "There will still be additional revisions after this. However, the SEC appears to be moving quickly on this."
Also Read How to Buy Crypto:
BlackRock filed an updated S-1 form for the iShares Ethereum Trust, signaling their firm move towards launching a spot Ethereum ETF. Instead, Hashdex withdrew their spot Ethereum ETF proposal for unreported reasons. Meanwhile, VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest, 21Shares, Invesco, Galaxy, and BlackRock's iShares Ethereum Trust continue to apply for spot Ether ETFs.
ETH Market Reaction
Bloomberg analyst Eric Balchunas previously predicted the market reaction to an Ethereum ETF would not be as enthusiastic as the reaction to a spot Bitcoin ETF. ETH price rose 1% after news of SEC requesting S-1 form update. It topped $3,800, with a 24-hour low and high of $3,702 and $3,823, respectively. Trading volume also fell 20% in the last 24 hours, indicating purchases came from large investors or whales.
How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH ) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH ) is available on Bittime with the market pair Ethereum (ETH ) To be able to buy Ethereum (ETH ) on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH ) on Bittime .
Monitor price chart movements for Ethereum (ETH ) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Galxe Will Announce Something Special Tomorrow: Is It Rebranding?
Mastercard Makes Crypto Transactions Easier with New Alias System
Ripple Fights IDR 30 Trillion Fine from SEC: Fierce Battle in the Digital Asset Regulatory Arena
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.