Odaily News On May 23, the U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 forms for eight spot Ethereum ETFs, with issuers including BlackRock, Fidelity and Grayscale. Although the form has been approved, ETF issuers need to wait until the S-1 registration statement becomes effective before they can start trading. The SEC has just begun discussing the S-1 form with issuers, and it is unclear how long the process will take, but some analysts speculate that it may take weeks. Jeffery Ding, chief analyst at HashKey Group, believes that Ethereum is following the successful path of Bitcoin ETFs and has broad prospects. Even more attractive is that Ethereum spot ETFs are expected to join the staking mechanism and become interest-bearing assets. In the medium term, the market size of Ethereum spot ETFs is expected to reach 75% of that of Bitcoin spot ETFs. In addition, Jeffery Ding believes that if the 21st Century Financial Innovation and Technology Act (FIT21) is passed, it will transfer the regulatory power of digital currencies from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). Since the CFTC has a more friendly attitude towards cryptocurrencies, perhaps other cryptocurrencies can also apply to become spot ETFs in the future, leading the crypto industry into the mainstream.