⚡ The final deadline for the first spot Ethereum ETF is May 23, when the SEC will either approve or reject VanEck’s application. The deadline for Ark 21Shares applications follows closely on May 24.
Other issuers awaiting a decision from the U.S. regulator include Hashdex, Grayscale, Invesco Galaxy, BlackRock, and Fidelity. Nate Geraci, president of ETF Store, noted that the SEC must approve both forms (19b-4 and S-1) for an ETF launch.
Five SEC members will vote on Wednesday on VanEck’s ETF, including Gary Gensler, who previously voted in favor of spot Bitcoin ETFs. The remaining four members have varied stances on cryptocurrencies. If the SEC approves VanEck’s fund, ETH prices are expected to rise. However, rejection is considered the more likely outcome.
⚡ Price Projections: Analysts offer mixed predictions. A rejection could lead to a slight price dip, while approval might drive ETH prices up to $3,500 or higher.