The U.S. Securities and Exchange Commission is expected to make its decision to approve one or more of the applications for spot ethereum (ETH-USD) exchange-traded funds after Wednesday’s market close, according to a media report. But it may take weeks before they can actually start trading, if approved.
Potential issuers of ethereum ether (ETH-USD) ETFs were given deadlines up until Thursday morning for final 19b-4 forms, The Block reported, citing two sources.
But that doesn’t mean trading of such products will start immediately after. If they’re approved, they likely won’t go live for weeks, as the S-1 forms won’t take effect for a number of weeks, the article said.
The SEC’s decision on VanEck’s spot ether (ETH-USD) ETF application is expected on May 23, followed by ARK Invest’s filing on May 24.
The price of ETH has driven up markedly in recent days, amid speculation around the approval of these products. It has jumped 22% in the past five trading sessions, trouncing bitcoin’s (BTC-USD) 1.3% increase.