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SEC Signals Possible Approval of Spot Ethereum ETFs This Week, Involving Nasdaq and CBOE

May 21, 2024, 04:40 PM

The U.S. Securities and Exchange Commission (SEC) has requested exchanges, including Nasdaq, CBOE, and NYSE, to update their 19b-4 filings for spot Ethereum ETFs, signaling a potential approval. The SEC's request for expedited amendments comes ahead of a key deadline this week. Analysts from Bloomberg, including Eric Balchunas and James Seyffart, have increased the likelihood of approval from 25% to 75%. Standard Chartered expects the SEC to approve the ETFs this week, with their Head of FX Research and Digital Assets Research, Geoff Kendrick, expressing high confidence (80% to 90%) in the approval. The SEC's actions have prompted major applicants, including Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, and Franklin, to submit amended filings. The SEC's approval could lead to new high prices for both Bitcoin and Ethereum, according to Fox Business.