It was looking like an all-but-certain rejection from the Securities and Exchange Commission, but just hours before a May 23 deadline to rule on VanEck’s application to launch a spot Ethereum exchange-traded fund, it appears that the SEC may be reconsidering.
CoinDesk first reported on Monday that the nine would-be issuers that filed to list and trade shares of the ETFs were “abruptly” asked by regulators to update their 19b-4 filings on an accelerated basis. A 19b-4 form is what an exchange like the NYSE requires for the introduction of new products—in other words, the applicants and the exchange are asking the SEC for permission to add the ETFs to their platforms.
