US SEC is asking for amended 19b-4 filings for spot Ethereum ETFs: reports
Quick Take
- Those filings, called Form 19b-4, are filed to inform the SEC about a proposed rule change and are among the documents that need the agency’s greenlight before spot ethereum ETFs can become effective.
Firms looking to list and trade shares of spot ether exchange-traded funds are being asked by the U.S. Securities and Exchange Commission to update and refile documents that are pivotal if those products were to be approved, according to news reports.
Those filings, called Form 19b-4, are filed to let the SEC know about a proposed rule change and are among the documents that need the agency's greenlight before spot ether ETFs can become effective.
The SEC's Trading and Markets Division told asset managers on Monday to amend their filings and refile them with amendments, The Wall Street Journal reported, citing people familiar with the matter. CoinDesk also reported that exchanges were being asked to update their 19b-4 filings on an "accelerated basis."
The outlook for a spot ether ETF has taken an optimistic turn. Bloomberg ETF analysts James Seyffart and Eric Balchunas now say that the chances of the SEC approving such a product have increased from 25% to 75%.
When spot bitcoin ETFs were approved earlier this year, the SEC approved the 19b-4 forms, and then issuers' registration statements needed to become effective for trading to start.
An SEC spokesperson told The Block, "We don’t comment on individual filings."
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