Amazing Development for Ethereum: Expectations Increased, SEC Met with Exchanges - Coin Bulletin

According to CoinGecko data, the price of Ethereum (ETH) has increased by approximately 20% in the last 24 hours and surpassed $3,700.

According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has contacted exchanges that want to list spot Ethereum ETFs and requested them to update their applications.

Analysts believed until a few days ago that it was unlikely for the SEC to approve spot Ethereum ETFs this month. The unexpected communication from the SEC with exchanges has changed perceptions.

SEC is expected to make a decision on VanEck's spot Ethereum ETF application on May 23.

The SEC's request for exchanges to update their 19b-4 applications does not mean that ETFs will be approved for sure. In order for that to happen, the issuers' S-1 applications will also need to be approved.

According to Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart, the odds of 19b-4 applications being approved have risen from 25% to 75% after discussions with exchanges.

ETH-2.42%
KT-1.86%
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