Big Players Like BlackRock, Bitwise, and Grayscale Make Amendments for Ethereum ETF Applications
For those keeping an eye on the cryptocurrency market, recent developments have seen major asset management firms such as BlackRock, Bitwise, and Grayscale adjusting their spot Ethereum (ETH) exchange-traded fund (ETF) applications by submitting revised 19b-4 filings to the Securities and Exchange Commission (SEC).
Key Points:
- BlackRock, Bitwise, and Grayscale have made amendments to their Ethereum ETF applications.
- The revisions remove staking provisions.
- Other firms, including Fidelity, VanEck, Franklin Templeton, Invesco Galaxy, and ARK 21Shares, have also updated their applications to eliminate staking provisions.
- The SEC is set to make a decision on listing and trading spot Ethereum ETFs by May 23, with VanEckโs application deadline approaching.
Updates on ETF Applications
The recent filings come at a crucial time as the SEC nears its deadline to decide on VanEckโs spot Ethereum ETF application.
The regulator is expected to reach a decision regarding the listing and trading of spot Ethereum ETFs by May 23. These filings are essential as they are submitted by national exchanges to seek approval for new product listings on trading platforms.
Changes in Staking Provisions
The amendments made by BlackRock, Grayscale, and Bitwise include the removal of staking provisions from their filings, indicating a shift in approach regarding Ethereum staking activities.
Additionally, the SEC has initiated discussions with issuers on their S-1 filings, which provide details on fund management and tracking the underlying assetโs price.
Expectations and Speculations
As the crypto community eagerly anticipates the SECโs decision, there are speculations that external influences may impact the outcome, possibly from higher levels of the US government.
If the SEC approves spot Ethereum ETFs, it could signify a significant regulatory change and validate the legitimacy of the crypto market.
Market Predictions
As the decision deadline approaches, Ethereum supporters are monitoring the market closely, eyeing potential bullish outcomes if the SEC gives its approval.
Analysts anticipate a substantial surge in Ethereumโs value, with predictions ranging from a 30% increase to a new all-time high above $4,878 or even a 75% surge to $6,600, similar to the impact seen on Bitcoin after its ETF approval.
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