‘5 Ethereum ETF applicants modify SEC filings – The moment has arrived’

Five potential issuers of Ether exchange-traded funds (ETFs) have submitted revised filings to the United States Securities and Exchange Commission (SEC) after receiving feedback from the regulatory body. The amended filings come from asset managers Fidelity, VanEck, and Franklin Templeton, as well as joint applications from Galaxy and Invesco, and ARK Invest and 21Shares. Changes to the filings include the removal of provisions for Ether staking by Fidelity, Franklin Templeton, and ARK 21Shares. The other applicants sponsored by the Chicago Board Options Exchange (CBOE) used similar language. Grayscale also abandoned staking, according to a proxy statement. While some industry experts believe that an approved spot Ether ETF without staking would boost staking returns, the filings are still subject to approval by the SEC. The SEC must decide on VanEck’s application by May 23, and it is anticipated that the regulator will make a decision on all or most of the applicants, similar to its handling of spot Bitcoin ETF applications earlier this year. The SEC’s request for accelerated filings on May 20 led to increased odds of approval for spot Ether ETFs, resulting in a 20.6% increase in the price of Ether since the reported change in the SEC’s stance.