TechFlow News — According to CoinDesk, citing three知情人士sources, the U.S. Securities and Exchange Commission (SEC) has asked exchanges to accelerate updates to their 19b-4 applications, suggesting the regulator may approve these filings ahead of a key deadline (May 23/24). However, this does not mean ETFs will be approved, as potential issuers still need approval for their S-1 applications before products can begin trading. The SEC could take an indefinite amount of time to approve the S-1 filings, as there is no statutory deadline for their review.
Following rumors that the SEC might take a more favorable stance on the applications, Bloomberg ETF analysts Eric Balchunas and James Seyffart raised their estimated probability of spot Ethereum ETF approvals from 25% to 75%. They later clarified their statement, noting that the increased likelihood pertained specifically to 19b-4 approvals.
ETH price quickly surged past $3,600, with a 24-hour gain exceeding 16%, according to HTX market data, potentially influenced by the news.
