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SEC only wanted ‘relatively light’ updates to 19b-4 forms for Ethereum ETFs: Source

The BlockThe Block2024/05/21 13:22
By:Tim Copeland

The SEC asked for minor updates to the 19b-4 forms, according to a source.These are expected to be handed in by 10 AM today, says Bloomberg ETF analyst Eric Balchunas.

The SEC only asked for minor changes to the important 19b-4 forms for prospective spot Ethereum ETH +22.22% ETFs, according to a source.

“The issuers are being asked to update their 19b4s. The updates are relatively light,” said a high-ranking member at an issuer.

They did not comment on when the forms could be approved but suggested that the requests are a positive sign. “It would be odd to ask folks to update something, only to reject them later, although I guess in this market literally anything can happen,” they said.

On May 20, the Wall Street Journal and CoinDesk reported that the SEC had asked issuers to update their 19b-4 forms ahead of the pending final deadlines for some issuers. This came after Bloomberg ETF analyst Eric Balchunas said that he was hearing chatter that the SEC had changed its mind regarding the ETF approvals.

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Balchunas then said he heard that the 19b-4 forms were to be returned to the SEC by 10 AM this morning. He added that approval for these forms might happen as early as May 22.

For the prospective Ethereum ETFs to go live, the SEC needs to approve the 19b-4 forms, and then the S-1 registration statements need to go effective. There’s no clear date for when the latter might take effect. When the spot bitcoin ETFs were approved, the S-1 statements went effective only a few hours after the 19b-4s were approved.

Fidelity has also updated its S-1 registration statement today to remove staking rewards from its fund. It also made a few other minor linguistic changes.


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