The new race on the US’s first Spot ETF for Ethereum is started as the Chicago Board Options Exchange (CBOE) files a new application to the SEC.
The CBOE has filed two 19b-4 filings to the US regulator on September 6, which requests listing of Ethereum ETFs for Ark21 Shares and VanEck on CBOE’s BZX exchange. These filings will “start the clock” for the SEC’s decision.
According to Bloomberg’s ETF analyst James Seyffat, the 19b-4 filings sets the countdown for SEC’s decision which now has a deadline around 23 May, 2024.
“This is different from the earlier Ark/21shares S-1 filing,” said Seyffat while explaining that the clock is the same as spot Bitcoin ETF filing.
The analyst discovered that VanEck did not file for Spot Ethereum ETF ‘recently’ in s-1 filing because the company filed 19b-4 application in 2021, which has now become known publicly.
The 19b-4 applications are filed by self-regulatory organizations such as stock exchanges directly to the SEC asking for a rule change. Whereas, s-1 filings include application from the company itself to list its investment product on exchange.
Following the CBOE’s interest, the analyst suggests that more Spot Ethereum ETFs filing is likely to occur in the coming days.
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