The Chicago Board Options Exchange (CBOE) submitted a latest 19b-4 form on behalf of financial services company Franklin Templeton for its Ethereum spot ETF application to the US Securities and Exchange Commission (SEC). Franklin Templeton had already submitted its S-1 application to the SEC last Monday. The 19b-4 form is a document submitted by the exchange to the US Securities and Exchange Commission (SEC), mainly used to apply for new trading products (such as ETFs) or modify trading rules. In contrast, the S-1 application is a registration statement submitted by a company planning to conduct an initial public offering (IPO), aimed at providing detailed information about the company, including financial status, business model, etc., to potential investors to make investment decisions. In short, the 19b-4 form focuses on the exchange's products and rule changes, while the S-1 application focuses on the company's public offering and fundraising process.

CoinGecko has released a report stating that there are currently 27 active Ethereum ETFs worldwide, with total assets totaling $5.7 billion. Of these, there are 20 spot ETFs and 7 futures ETFs.

Investment bank TD Cowen expects the SEC to approve a spot Ethereum ETF by the end of 2025 or early 2026. Earlier this month, the bank said approval could come after the November 2024 election.

Ethereum became one of the biggest beneficiaries in the decision by US regulators to approve the country's first Bitcoin ETF. As of the time of writing, Ethereum has risen by 9% in the past 24 hours to reach $2,609 per coin, its highest point in 20 months. Meanwhile, Bitcoin has skyrocketed by over 160% in the past year and is currently trading at around $46,070, indicating that traders are betting that the next product approved by the SEC will be an ETF for direct investment in Ethereum. Calvin, co-founder of Sydney-based cryptocurrency asset management company DACM, said that based on Ethereum's scale, liquidity, and existing CME futures, it has the attributes to establish a spot ETF using the successful Bitcoin model.