This week was extremely busy for cryptocurrency investors regarding the ETF decision. However, no one expected such a week on Sunday morning. On Monday, the SEC suddenly reversed its position on ETH ETF applications. This was definitely a turn in favor of investors, and now there is another new development.
Spot Ether ETF and BlackRock
The world’s largest asset manager, BlackRock, had said that they would have an ETF even if Ethereum (ETH) was labeled as a security. Now that the SEC has made a 180-degree turn, the largest asset manager has updated its ETF application. This tells us that discussions between the SEC and BlackRock are ongoing.
Potential issuers have been updating their files for a few days and removing the staking section that the SEC opposed. Now, ETH ETFs have become approvable by the SEC, and according to leaked information from issuers, approval is just a matter of time. The final decision dates for VanEck and Ark’s applications will expire on May 23 and 24. The deadline for Grayscale’s ETHE is May 30.
The final decision date for Fidelity and BlackRock applications was after the second quarter. Likely, the SEC will approve all applications at once, so we see that all applicants have updated their files. Interesting things may happen in the next 48 hours.
