Fox Enterprise journalist Eleanor Terrett stated on Thursday that the US Securities and Trade Fee (SEC) began talks with Ethereum exchange-traded fund (ETF) issuers concerning their S-1 registration kinds. She cited sources who stated there’s nonetheless “work to do” on these kinds.

This may very well be seen as a constructive growth, nevertheless it suggests there might need been a earlier delay in communication.

🚨NEW: Listening to that conversations regarding the S-1’s have now began taking place between @SECGov employees and issuers with the conclusion being that there’s “work to do” on these.

— Eleanor Terrett (@EleanorTerrett) Could 22, 2024

In a separate put up, Terrett indicated the SEC may approve the 19b-4 filings right this moment, adopted by collaboration with issuers on S-1 kinds within the coming weeks or months.

Commenting on Terrett’s put up, Bloomberg ETF analyst James Seyffart stated with important effort, S-1 functions for spot Ethereum ETFs may very well be resolved inside a couple of weeks. Nevertheless, he famous that the SEC may have further time to finish the S-1 evaluation course of.

“I think that if they work extremely hard it can be done within a couple weeks but there are plenty of examples of this process taking 3+ months historically,” Seyffart prompt.

Most ETF issuers, together with main gamers like Constancy, Bitwise, Grayscale, VanEck, Ark 21Shares, Franklin Templeton, and Invesco, submitted their amended 19b-4 filings earlier this week. Nasdaq additionally refiled BlackRock’s proposed Ethereum ETF yesterday.

The clock ticks down because the market braces for the SEC’s verdict on spot Ethereum funds.

Bloomberg analyst Eric Balchunas suggests a timeframe of round 4:00 PM ET for the SEC’s announcement on the destiny of those ETFs. The choice on spot Bitcoin ETFs beforehand arrived barely earlier on the designated date.

My finest guess is we hear from the SEC round 4pm tomorrow. For spot btc they dropped it at 3:45pm, some others in previous have been barely after 4pm. Something poss tho https://t.co/MzTOcsmTnJ

— Eric Balchunas (@EricBalchunas) Could 22, 2024

In the meantime, Ethereum’s price has surged 25% over the previous seven days, buying and selling at almost $3,800 at press time, in accordance with CoinGecko’s information.

Consultants anticipate {that a} potential spot Ethereum ETF approval may set off a pointy price enhance. Nevertheless, whether or not Ethereum can replicate Bitcoin’s price motion after the spot fund approval stays unsure.