Cboe BZX posts amended spot Ethereum ETF filings, marking a step forward in upcoming decision

Exchange CboeBZX revamped 19b-4 forms for five spot Ethereum exchange-traded fund proposals, marking the latest move as a potential approval for such a fund could be imminent.

Cboe BZX filed amended Form 19b-4s late on Tuesday for the Franklin Ethereum Trust, Fidelity Ethereum Fund, VanEck Ethereum Trust, Invesco Galaxy Ethereum ETF and the ARK 21Shares Ethereum ETF.

The amended filings come as exchanges were reportedly asked by the SEC to amend their 19b-4s earlier this week. Form 19b-4s 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. S-1 registration statements would still need to go effective before the funds can begin trading.

Bloomberg ETF analyst James Seyffart said the filings showed the rumors could be true.

"Still a potentially long way from a launch," Seyffart said in a post on X on Tuesday. "But these filings prove that all of the rumors and speculation and chatter have been accurate. Need to actually see SEC approval orders on all the 19b-4s AND THEN we need to see S-1 approvals. Could be weeks or more before ETFs launch."

The details

Fidelity clearly stated that none of its ETH will be used for staking purposes, according to the firm’s amended 19b-4 filing.

“Neither the Trust, nor the Sponsor, nor the Custodian, nor any other person associated with the Trust will, directly or indirectly, engage in action where any portion of the Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings,” the filing continues.

Other issuers, such as VanEck had similar language.

Ether traded around $3,797.42 at publication time, seeing a 4.16% increase in the past 24 hours, The Block Prices for ether shows.