The U.S. Securities and Exchange Commission (SEC) is urging exchanges on which shares of future Ether spot ETFs are to be traded to expeditiously update their registration forms.

Approval of forms (19b-4), which set out the terms of trading in shares of future ETFs for ether, is expected this week. Analysts have several times increased the chances of approval of spot ETFs for ether in the United States, and against the backdrop of this news, the ether exchange rate exceeded $3,500 for the first time since April 1, 2024. The price of the cryptocurrency rose by 20% within 24 hours.

To launch exchange-traded funds, the SEC must approve the issuing companies' Form S-1 filings, and there is no deadline for this procedure. VanEck's Form 19b-4 filing deadline is May 23. BlackRock's Form 19b-4 deadline is August 7th.

Previously, MicroStrategy executive chairman Michael Saylor called ether a security and suggested that for this reason the SEC would not approve spot ETFs tied to this coin.