What is a 19b-4 Filing? How Close Are We to the Approval of a Spot Ethereum ETF?
Informed sources have disclosed that the U.S. Securities and Exchange Commission (SEC) has requested a potential spot Ethereum ETF issuer to update its 19b-4 filing on Monday.
Understanding the 19b-4 Filing
The 19b-4 filing is a form used to notify the SEC of rule changes that allow a fund to trade on an exchange. ETF issuers must secure SEC approval of this document, along with the S-1 or S-3 registration statement, before officially launching their product.
According to a CoinDesk report, three sources have indicated that the SEC has urged exchanges to expedite updates to their 19b-4 filings for spot Ethereum ETFs. This move suggests that the SEC may approve these applications by this Thursday.
Steps to Approval
However, this does not guarantee the approval of the Ethereum ETF. Potential issuers still need to obtain approval for their S-1 or S-3 filings before these products can begin trading. One insider mentioned that the SEC could take an uncertain amount of time to approve these S-1/S-3 documents, as they do not have a fixed deadline.
Conclusion
While the SEC’s request for an updated 19b-4 filing is a positive sign, it is not the final step. The approval process for the S-1 or S-3 filings remains an essential and uncertain hurdle before a spot Ethereum ETF can be traded.
