According to two sources from The Block, Ethereum ETF issuers were given until this morning to submit their final 19b-4 forms. However, even if these forms are approved, trading of these products is not expected to begin for a few weeks.

An issuer was notified yesterday that it had until 17:00 today (00:00 Turkish time) to amend and submit form 19b-4. According to a different source, another issuer was given an earlier deadline.

The U.S. Securities and Exchange Commission (SEC) expects to make a decision on approving one or more applications after the market closes today, a source at an applicant company said. This expectation is based on the institution’s historical tendency to make such decisions.

However, a source expressed doubts that trading of these ETFs will begin anytime soon. By the time Bitcoin ETFs were approved, S-1 registration statements were already prepared and exchanges were ready to begin trading. In contrast, S-1s for Ethereum ETFs require “too much processing” and negotiations with exchanges to prepare for transactions have not yet begun.

One source predicts the S-1s will go back and forth between the SEC and prospective issuers multiple times before they are ready. They said it could take weeks but ultimately depends on how responsive the SEC is.

If the 19b-4 forms are approved and the S-1s go into effect, Ethereum ETFs can begin trading. However, the exact timeline remains unclear and depends on several factors, including the speed of the SEC’s response.

*This is not investment advice.

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