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Bloomberg analysts Eric Balchunas and James Seyffart, who announced minutes ago that the approval probability of Ethereum Spot ETFs increased from 25% to 75%, published a new statement.
Analysts shared that they had received new information and thought that the SEC could make a 180-degree turn regarding the Ethereum Spot ETF.
In his post minutes ago following the previous announcement, James Seyffart stated that the 75% rate in question was for 19-b forms, which had a final decision date of May 23. May 23 is known as the deadline for the SEC to decide whether to reject or approve VanEck's Spot ETH ETF application.
Seyffart said that the possible approval on May 23 should be followed by S-1 approvals. According to the analyst, this second approval may take weeks or months to arrive. So, the analyst says that it still takes time for Ethereum Spot ETFs to open for trading.
However, Seyffart stated that if they are proven right and the 19-b approvals come, the S-1 approvals will no longer be an “if scenario” but a “when scenario”, meaning their approval will be finalized.
In summary, both 19b-4 and S-1 approvals are required for a crypto spot ETF to fully operate in the market. Form 19b-4 allows the ETF to be listed on a trading platform, while registration S-1 allows it to be sold to the public.
*This is not investment advice.