ETF issuers rush to file! Can Ethereum spot ETF be approved on 5/23?

Each ETF issuer is in full swing submitting 19b-4 documents, hoping to obtain SEC approval before May 23, although yesterday Bloomberg significantly increased the probability of approval to 75%. But in fact there is still a lot of follow-up work, and it may take weeks to months before the ETF is officially launched. However, the optimism of the community has not diminished. Yesterday, ETH rose another 2.9%, reaching US$3,800.

At least five issuers resubmitted documents yesterday

According to a tweet from Bloomberg ETF analyst James Seyffart, at least five potential Ethereum spot issuers submitted revised 19b- 4 documents, namely: Fidelity, VanEck, Invesco, Galaxy, Ark/21Shares and Franklin, all submitted documents through the exchange CBOE.

It will still take some time for the ETF to be officially launched

Although submissions are in full swing, Seyffart also generously admitted on X that he had misjudged the situation. But he still believes that there is still a long way to go before the ETF is officially listed. 5/23 is the deadline for VanEck, and the SEC still needs to approve the S-1 form.

However, these documents prove: all the rumors, speculation and chatter are accurate.

In fact, the issuer’s 19b-4 filing requires an SEC approval order and then S-1 approval, so it may take weeks to months until the ETF is officially launched.

Assets may only be 10~15% of Bitcoin

According to estimates by Bloomberg ETF analyst Eric Balchunas, after the launch of the Ethereum spot ETF, the asset value may be only 10% of the Bitcoin spot ETF. 10-15%. It is estimated that the current total asset value of the eleven Bitcoin spot ETFs is US$58.6 billion, which is approximately US$5.8 to US$8.8 billion. But Balchunas said the pair of newly issued ETFs are already pretty good.

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