deuceswildjokerpoker| SEC "changes face", Ethereum spot ETF approval may just be a matter of time

Article reprint source: Felix

Comprehensive compilation: FelixDeuceswildjokerpoker, PANews

The pessimism that has pervaded the market for months seems to have dissipated overnight. Bloomberg ETF analysts Eric Balchunas and James Seyffart announced that they would increase the chances of spot 19b-4 approval from 25 per cent to 75 per cent after there were "rumors" that US securities regulators had asked applicants to speed up the updating of ETFs. After a series of good news, Tai Tai Fong soared by 24 hours.Deuceswildjokerpoker.26%, overnight Niuhui.

According to CoinDesk, three people familiar with the matter said that the US SEC asked the exchange to speed up the updating of 19b-4 applications, indicating that they are likely to approve the applications before the key deadline on Thursday.

But that doesn't mean ETF will be approved. Updating 19b-4 filings is a critical step, but more needs to be done to ensure final approval of ETF. Potential issuers need to obtain Smur1 application approval before the product starts trading.

A person familiar with the matter said that SEC may need an uncertain period of time to approve the Smuri 1 document because it has no deadline. According to a person familiar with the matter, a company that is in talks with SEC said it felt it might goDeuceswildjokerpokerIs on the right track to get approval, and a few weeks ago it felt that SEC was stalling.

Bloomberg ETF analysts Eric Balchunas and James Seyffart raised the chances of spot ethernet 19b-4 approval from 25 per cent to 75 per cent after news broke that SEC had asked applicants to speed up the update of ETFs.

"James Seyffart and I are increasing the chances of approving our spot ethernet ETFs to 75 per cent (from 25 per cent to 75 per cent), and this afternoon we heard that SEC might make a U-turn on this issue (increasingly politicised), so everyone is in a hurry right now (like us, others think they will be rejected)," Eric Balchunas said.

It is reported that the US SEC must make a final decision on the spot ethernet ETF application of VanEck by May 23rd. However, Seyffart made it clear that the approved ETFs must be accompanied by a signed Smuri 1 registration statement before they can launch spot ethernet square 19b-4. Even if 19b-4 is approved this week, it could take weeks or even months to get approval.

That is to say, if our predictions are correct, we will see these theoretical approvals later this week. This should mean that Smur1 approval is a question of 'when', not 'whether'. "

James Seyffart then made a list of all applications for spot ETF in Ethernet Fong, and Eric Balchunas replied: "I heard that SEC wants the revised 19b-4s to be submitted by 10:00 tomorrow morning (based on the large number of comments they just received today), and it could be approved as soon as Wednesday."

While the Biden administration has taken a radical anti-encryption policy stance in recent weeks, Eric Balchunas points to the increasing politicization of cryptocurrencies as the driving force behind this sudden shift.

In addition, Trump basically promised to become a president who supports cryptocurrency if he returns to the White House in the upcoming election. Then, 12 Democratic senators joined the Republicans last week in overturning SEC's employee Accounting Bulletin (SAB) 121. The move could be a sign that more Democrats want to win over voters who support cryptocurrencies as Republicans have done in the past.

Still, industry observers cite several reasons why they think SEC may not be ready to allow spot ethernet ETFs to start trading.

"concerns about liquidity in ETH's spot and futures markets, as well as concerns previously classified by SEC as securities, have raised doubts about ETH's rapid approval," Matteo Greco, an analyst at Fineqia International, said in a research note on Monday.

Related reading: 180 °reversal! Spot ETF approves promising, ETH soars 18%