The SEC asked exchanges to expedite updates to 19b-4 applications, three people familiar with the matter told CoinDesk, suggesting they may approve them before a key deadline this Thursday. But that doesn't mean the ETF will be approved. Potential issuers also need their S-1 applications approved before the product can begin trading. Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart raised the odds of spot ether ETF approval from 25% to 75% after hearing rumors that the SEC might take a more favorable stance on the application, with the probability tied to 19b-4 approval. The SEC is expected to make a decision on the VanEck spot ether ETF on May 23. ETH has now risen to $3,600, up more than 18% in 24 hours.
