SEC Approval Timeline
If the Securities and Exchange Commission (SEC) approves Ethereum Spot ETFs, analyst James Seyffart predicts it could take weeks or even months before they start trading. This is because the S-1 filings need to be approved before trading can begin.
VanEck’s Application
Seyffart and his colleague believe the SEC will likely approve VanEck’s application on or before May 23, as that’s the final deadline for the Commission to make a decision.
SEC’s Change of Heart
The SEC was initially expected to deny these applications due to concerns about Ethereum being considered a security. However, the Commission has since indicated a willingness to approve them due to “increasingly political issues.”
Timeline for Trading
Unlike exchange filings, there is no set timeframe for the SEC to approve registration filings. However, the SEC has previously approved both 19b-4 and S-1 filings simultaneously, as they did with Spot Bitcoin ETFs.
Staking Plans Removed
Asset managers Fidelity and Grayscale have removed staking plans from their updated S1-filings, likely due to concerns about the SEC considering ETH a security. This removal increases the likelihood of SEC approval.
Current Ethereum Price
At the time of writing, Ethereum is trading around $3,700, up over 3% in the last 24 hours.
