Applicants for Ethereum ETF file 19b4 forms
Five companies have applied for Ethereum (ETH) spot ETFs and have submitted their 19b-4 forms to the U.S. Securities and Exchange Commission (SEC).
According to James Seyffart, an analyst at Bloomberg Intelligence, Fidelity, VanEck, Invesco/Galaxy, Ark Invest, and Franklin Templeton submitted their Amended 19b-4 forms to the SEC just 25 minutes before the deadline. The purpose of the 19b-4 forms is to notify the SEC of a proposed rule change.
The ETF applicants decided to exclude ETH staking from their investment products using the 19b-4 forms, as it is not permitted for either the issuer or the user to directly or indirectly engage in Ethereum staking activities with the ETF.
Alex Thorn, the Head of Firmwide Research at Galaxy Digital, mentioned on May 21 that the SEC may consider staked ETH as a security to approve the ETFs.
Despite the submission of the 19b-4 forms, Seyffart noted that the likelihood of the ETH ETF approval remains at 75%. He mentioned that it could take “weeks or more” before the spot ETH ETFs are launched in the U.S.
A report from crypto.news on May 21 stated that analysts at the Singapore-based trading firm QCP Capital believe that the approval of spot Ethereum ETFs could push the asset’s price above the $5,000 mark.
In conclusion, Uniswap has warned the SEC that if litigation is necessary, they are confident they will prevail.
