Eleanor Terrett disclosed that on May 22, the SEC began talking with issuers of Ethereum ETFs related to S-1 forms.
On May 22, the U.S. SEC started talking to possible issuers of Ether ETFs. As a result, several people expected clearance right away.
Journalist Eleanor Terrett reported that SEC employees spoke with issuers of Ether ETFs about S-1 paperwork. At the end of the conversations, there was a consensus that there was still “work to do.”
S-1 forms are registration statements filed with the SEC. They include detailed information about the company and the securities intended for offering.
The SEC receives regulatory submissions on 19b-4 forms for clearance. Stock exchanges and trading platforms, for example, are self-regulatory groups that use them to suggest new regulations or change current ones.
Terrett agreed in his following article to “ “the ETF experts” in a separate post. Assuming that the SEC approves the 19b-4 forms on May 23, Terrett speculated that the SEC might work with Ether ETF issuers “on S-1’s over the next few weeks/months.”
Senior ETF Analyst at Bloomberg Eric Balchunas anticipates an announcement from the SEC on May 23. He points out that this coincides with the announcement of the spot Bitcoin ETF.
“My best guess is we hear from the SEC around 4pm tomorrow. For spot BTC, they dropped it at 3:45pm; some others in the past were slightly after 4pm. Anything poss tho.”
This comes after the U.S. House of Representatives approved the FIT21 crypto bill on May 22, with 208 Republicans and 71 Democrats voting in favor and 136 against.
In light of the possible impending approvals of ETFs, Consensys CEO Joseph Lubin has added his perspective to the conversation.
At DappCon in Berlin, Lubin said only to Cointelegraph that Ether ETFs in the United States were “as good as done.”
Lubin claims that high-profile companies like BlackRock will have their 19b-4 petitions granted. But, the S-1s process “could drag on for a while.”
The co-founder of Ethereum clarified that there is pressure on the SEC to take a neutral stand. The impending presidential elections in the United States are adding to this pressure.
