The price of ether got a surprise bump as odds of an ether ETF approval seemed to increase overnight.
What's happening: Would-be issuers were reportedly told by the SEC to return lightly tweaked 19b-4 filings by this morning.
Fidelity's amended filing landed, showing dropped mentions of staking features — likely something all issuers will do.
Behind the scenes: Bloomberg Intelligence analysts pivoted on their forecast, raising odds of approval to 75% from 25%, based on "chatter" that the SEC could flip because of politics.
Approvals could apparently land tomorrow, not Thursday.
The intrigue: The ether ETF is being held out as a canary — a more meaningful sign of change in the U.S. posture toward crypto.
💭 Our thought bubble: ⏳ Even if the SEC gives the nod on the 19b-4 filings, S-1s, which contain the prospectuses for those ETFs, would need to be declared effective before those ETFs are allowed to launch.
Probably won't be till the back half of the year that we would see a launch.