The US SEC is reportedly asking companies to update and resubmit crucial documents for approval of spot Ethereum exchange-traded funds.
These documents, known as Form 19b-4, are required for the agency to review proposed rule changes and must be approved before spot Ethereum ETFs can go live.
The SEC's Division of Trading and Markets has reportedly instructed asset managers to amend and refile their Forms 19b-4.
Bloomberg ETF analysts estimate the likelihood of SEC approval of a spot Ethereum ETF is 75%, up from 25% previously.