Cboe Submits 5 Amended ETH ETF Filings, Boosting Approval Prospects

Cboe BZX has filed 19-b4 amendments for five spot Ethereum ETFs on May 21, significantly enhancing the likelihood of approval for each fund.

This announcement coincides with a surge in approval odds on Polymarket, rising from 10% to 70% by May 31.

Bloomberg ETF analyst James Seyffart noted that these filings confirm earlier rumors and speculations.

He cautioned that despite the positive development, the launch of each fund might still be weeks away, pending SEC approval orders and S-1 registration statements.

Yesterday, Seyffart and colleague Eric Balchunas raised approval odds to 75% following reports of impending amendments, supported by insights from other sources, including FOX Business reporter Eleanor Terret.

Expanding ETF Landscape: Cboe BZX Amendments and Pending Applications

The Cboe BZX amendments encompass proposals from Fidelity, VanEck, Invesco, Galaxy, Ark Invest, 21 Shares, and Franklin Templeton.

However, not all pending applications are covered by these amendments. Grayscale seeks to convert its Ethereum Trust (ETHE) to a spot ETF on NYSE Arca, while BlackRock and Hashdex plan spot Ethereum ETFs on Nasdaq.

Anticipation Builds as SEC Decides on VanEck's Spot ETH ETF: Impact of Amendments and Staking Restrictions

The SEC is expected to decide on VanEck's spot ETH ETF on May 23, but it might approve multiple similar proposals simultaneously with later deadlines.

The amendments clarify critical aspects of each ETH ETF, stating that staking activities will not be undertaken by the trust, fund, sponsor, custodian, or other parties involved.

Each fund will utilize cash creation and redemptions, contrary to in-kind creations and redemptions that allow transactions in crypto, as seen with spot Bitcoin ETF approvals.

These factors, particularly the staking restrictions and transaction mechanisms, are anticipated to shape the SEC's decision on ETH ETFs.