News - Confusion surrounding Ethereum ETFs: Are they now approved?

By Mike Hesp

Confusion surrounding Ethereum ETFs: Are they now approved?

Ethereum (ETH)
ETF

Since yesterday, it seems clear: Ethereum Spot ETFs have been approved. However, the market is reacting cautiously. This is because the actual approvals are still pending.

Are the Ethereum Spot ETFs approved in the U.S. or not? A discussion has erupted on Polymarket, where bets are placed on all kinds of events.

Shortly after news of the endorsements circulated yesterday, the platform put the result at yes - the ETF's have been approved.

In the comments section of the $13 million bet however, some dispute this.

The reason: the SEC approved the so-called "19b-4" applications, but not the "S-1" applications.

This bureaucratic wrangling is not trivial. A "19b-4" application is actually a declaration of intent by an exchange, in this case the NYSE, to list a financial product on the exchange. The "S-1" application, however, is more decisive. Only this one authorizes trading.

Even though it is considered a formality, the Ethereum Spot ETFs have not yet been approved. This could potentially take weeks or even months.

The crypto market trading day was correspondingly disappointing. Ethereum fell about six percent from the previous day to $3,700.

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