BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
FOLLOW
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result

SEC Faces Crucial Decision After Chicago Exchange’s Ethereum ETF Filings

BlockNews Team by BlockNews Team
September 11, 2023
in Crypto, Finance, Media
Ethereum-Price
Share on TwitterShare on Reddit
  • The Chicago Board Options Exchange has lodged two applications for Ethereum ETFs with the SEC.
  • 19b-4 filings by the exchange mandate the SEC’s careful review and final decision on rule adjustments for product listings.
  • Predictions suggest the SEC might conclude by May 23, 2024, on the submitted Ethereum ETF applications.

Chicago’s notable stock exchange, the Chicago Board Options Exchange (CBOE), has recently submitted applications concerning the launch of Ethereum-based exchange-traded funds (ETFs). The step has shifted attention towards the U.S. Securities and Exchange Commission (SEC) as they prepare to make a pivotal judgment.

The CBOE, on September 6, lodged two applications focused on the inclusion of ARK 21Shares Ethereum ETF and VanEck Ethereum ETF on their BZX Exchange platform. Such applications, known as 19b-4 filings, are integral. They notify the SEC to evaluate necessary rule modifications for the listing of these products.

Historical data suggests that Ethereum ETF applications aren’t new to the SEC. ARK Invest, in tandem with 21Shares, had submitted their joint S-1 application on the same day, September 6. Furthermore, VanEck had already approached the SEC with its application in July 2021.

James Seyffart, an acknowledged ETF analyst from Bloomberg, shared his perspective on this evolving situation via Twitter. Elaborating on the vital nature of the 19b-4 submissions, Seyffart emphasized that such applications lay the groundwork for the SEC’s final verdict. According to his predictions, a definitive decision from the SEC may be on the horizon around May 23, 2024.

In a related development, the SEC had dropped hints on August 17, suggesting they might be open to endorsing Ethereum Futures investment items. Simultaneously, renowned financial firms like Grayscale Investments and BlackRock have shown interest and are eagerly awaiting nods for their respective Bitcoin ETF products.

For those unfamiliar, it’s valuable to distinguish between an S-1 filing and a 19b-4 form. An S-1 application showcases a firm’s ambition to list a particular investment on an exchange. In contrast, a 19b-4 form bears more weight, as it compels the SEC to examine the submission in detail and arrive at a decision. However, it’s worth noting that the SEC retains the right to delay the final decision, as seen with earlier Bitcoin ETF proposals.

The spotlight is now fixed on the SEC, with the financial community waiting in anticipation for the inaugural U.S. Ethereum ETF approval.

Tags: ChicagoETFethereumsec
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

bitcoin(s)
Crypto

US Lawmakers Call On SEC Chair To Approve Spot Bitcoin ETFs ‘Immediately’

September 30, 2023
Uniswap-logo
Business

Uniswap Seeks Funding Approval to Bolster Development and Research Initiatives

September 30, 2023
Ripple Logo on Phone
Business

Ripple Retracts Fortress Trust Acquisition, Keeps Future Collaborations Open

September 30, 2023
Eth logo
Crypto

Ethereum Futures ETFs Could Start Trading Next Week — Bloomberg Analyst

September 30, 2023
Paysafe logo on Billboard
Business

Binance Loses Key European Banking Partner Paysafe, Urges Shift to USDT

September 30, 2023
Around the Block
Crypto

Around The Block: Sept 29 Week in News

September 30, 2023
Load More
Next Post
Rario

NFT startup Rario loses founders after $120M funding last year: Report

FSC taiwan

Taiwan’s Virtual Currency Management Committee to Issue 10 Guiding Principles for Crypto Report

El-Salvador-BTC

El Salvador Leads the Charge in Bitcoin Literacy with New Public School Program

Related News

memecoins

Can Memecoins be Used as Real Currency?

May 22, 2023
XRP-logo

XRP Is Outperforming Top Cryptos With Double-Digit Gains – Here Is Why 

September 27, 2022
XRP-Logo

XRP Rides High on the Waves of SEC Verdict Triumph

July 19, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
Discord Twitter Instagram TikTok
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Featured
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • US Lawmakers Call On SEC Chair To Approve Spot Bitcoin ETFs ‘Immediately’ September 30, 2023
  • Uniswap Seeks Funding Approval to Bolster Development and Research Initiatives September 30, 2023
  • Ripple Retracts Fortress Trust Acquisition, Keeps Future Collaborations Open September 30, 2023

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022-2023 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?