Ethereum ETF Approval Process Begins as SEC Staff and Ether ETF Issuers Conclude S-1 Forms Discussions

The United States Securities and Exchange Commission (SEC) has started the approval process of the much-anticipated Ethereum exchange-traded funds (ETFs)

The United States Securities and Exchange Commission (SEC) has begun the approval process for Ethereum exchange-traded funds (ETFs). Discussions between potential issuers of Ether ETF and the regulatory body are currently taking place.

The discussions started on Monday (May 22) and have led crypto enthusiasts to anticipate an imminent approval. However, deeper analysis of the matter suggests that the approval process might take a while longer.

Journalist Eleanor Terrett noted that discussions between SEC staff and Ether ETF issuers about the S-1 forms concluded with the understanding that there was still some work to be done.

S-1 forms are registration statements that companies have to file with the SEC. They include detailed information about the company and the securities they intend to offer. On the other hand, 19b-4 forms are regulatory filings issued to the SEC for approval.

These filings are used by self-regulatory organizations like stock exchanges or trading platforms like crypto exchanges to propose new rules or change existing ones.

Terret gave her own explanation of the ongoing events while also quoting ETF experts’ opinions on the matter.

Assuming that the SEC approves the 19b-4 forms on May 23, Terrett speculated that the SEC might work with Ether ETF issuers “on S-1’s over the next few weeks/months.”

Other analysts and crypto experts gave their own assessment of the situation, speculating on when the US SEC is likely to give a verdict on the Ethereum ETF approval.

Eric Balchunas, a Senior ETF Analyst at Bloomberg, expects the SEC to issue an announcement on May 23. It mirrors the same time the SEC approved Bitcoin ETF.

“My best guess is we hear from the SEC around 4 pm tomorrow. For spot btc they dropped it at 3:45 pm, some others in the past were slightly after 4 pm. Anything poss tho. Eric said.

This ongoing development follows the approval of a crypto bill in the US House of Representatives on Monday (May 22). The bill passed with 208 Republicans and 71 Democrats in favor to 136 against.

Consensys CEO Joseph Lubin recently weighed in on the discussion, giving his own assessment in anticipation of the potential looming Ether ETF approvals.

He explained to CoinTelegraph that the Ethereum ETFs in the United States were as good as done from his perspective. According to Lubin, the 19b-4 applications filed by high-profile firms like BlackRock would be approved.

However, the process behind the S-1 files could delay the approval process, dragging on for a while. He also explained that the US SEC under Gary Gensler is under a lot of pressure to maintain a neutral stance on the cryptocurrency industry as the US presidential elections draw close.