Three additional US-based asset managers with Ethereum (ETH) spot ETF filings have amended their 19b-4 filings with the Securities and Exchange Commission (SEC).
In a May 22 filing from the Nasdaq Stock Market, asset manager BlackRock amended its Ether ETF 19b-4 spot application to remove mortgage provisions. Grayscale and Bitwise filed similar amendments to NYSE Arca. The SEC's approval of 19b-4 filings would be a step toward giving the green light for spot ETFs to be listed and traded on exchanges.
“Neither the Fund, nor the Sponsor, nor the Ethereum Custodian (…) nor any other person associated with the Fund, directly or indirectly, will participate in an action in which any part of the Fund’s ETH becomes subject to an Ethereum Proof of Stake or is used to earn additional ETH or Generate other income or profits,” BlackRock’s amended filing said.
On May 21, requests from Fidelity, VanEck, Franklin Templeton, Invesco Galaxy, and ARK 21Shares reflected similar amendments to remove staking. The SEC is expected to decide whether to approve or deny the listing and trading by May 23, when the regulator reaches the final deadline for VanEck's application.
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For many in the cryptocurrency space, the SEC's decision has become entangled in discussions about Congress considering passing legislation to better define the regulator's role in regulating digital assets. At press time, House lawmakers were debating the 21st Century Financial Innovation and Technology Act before voting.
The Depository Trust and Clearing Corporation is listing VanEck's Ether ETF under the ticker symbol ETHV — a positive, but not definitive, sign that the asset manager is preparing to seek SEC approval. It is unclear whether the commission will move forward with approving Ethereum ETFs as it did with Bitcoin (BTC) spot investment vehicles in January.
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