Ethereum ETF talks initiated by SEC, S-1 approval anticipated within hours

The United States Securities and Exchange Commission (SEC) has initiated discussions with potential issuers of spot Ether exchange-traded funds (ETFs), leading to speculation that approval may be imminent. Journalist Eleanor Terrett has reported that these discussions, which focused on the S-1 forms, concluded with the understanding that there is still work to be done. S-1 forms are registration statements that companies must file with the SEC, providing detailed information about the company and the securities they plan to offer or issue. In contrast, 19b-4 forms are regulatory filings submitted to the SEC for approval and are used by self-regulatory organizations (SROs), such as stock exchanges or trading platforms, to propose new rules or modify existing ones. Terrett, in a subsequent post, referred to the expertise of ETF professionals. Assuming that the SEC approves the 19b-4 forms on May 23, there may be ongoing collaboration between the SEC and Ether ETF issuers regarding the S-1 forms in the coming weeks or months. Bloomberg’s senior ETF analyst, Eric Balchunas, anticipates that the SEC will make an announcement on May 23, similar to the timing of the spot Bitcoin ETFs decision. This development follows the approval of the FIT21 crypto bill in the U.S. House of Representatives, which passed on May 22 with the support of 208 Republicans and 71 Democrats, and opposition from 136 representatives. Joseph Lubin, CEO of Consensys, has also weighed in on the discussion, expressing confidence in the potential approval of Ether ETFs in the U.S. In an exclusive interview with Cointelegraph at DappCon in Berlin, Lubin stated that Ether ETFs in the U.S. are essentially guaranteed, with high-profile firms like BlackRock expected to have their 19b-4 applications approved. However, Lubin also noted that the process for the S-1 forms could be lengthy. He explained that the SEC is facing pressure to take a neutral stance as the upcoming U.S. presidential elections draw closer.