Official SEC announcement or reliable financial news sources reporting on the decision

SEC Requests Accelerated Filings for Spot Ethereum ETFs Ahead of May 23rd Deadline

May 20, 2024, 08:41 PM

The U.S. Securities and Exchange Commission (SEC) has requested that exchanges expedite their 19b-4 filings for spot Ethereum ETFs. This accelerated update request indicates that the SEC might be preparing to approve these ETFs. The decision is expected to be made this week, with a deadline set for May 23rd. The approval process involves both a 19b-4 filing, which is a change in trading rules, and an S-1 registration statement. This development is significant and has led many to predict a 75% chance of approval for the Ethereum spot ETFs. Nate Geraci, President of ETF Store, commented on the SEC's decision, and the information was reported by CoinDesk, citing three people familiar with the matter.