The scramble for the first spot ethereum exchange-traded fund in the U.S. has officially begun after the Chicago Board Options Exchange (CBOE) filed a new 19b-4 filing, which will “finally initiate” the SEC’s decision.

On September 6, CBOE submitted two 19b-4 applications to US securities regulators, requiring Ark 21 shares Ethereum ETF and Van Eck The Ethereum ETF investment product will be listed on CBOE’s BZX exchange.

Bloomberg ETF analyst James Seyffart noted in a series of tweets that, unlike the previously filed S-1, the 19b-4 means the countdown to the SEC’s decision has now begun.

Seyffart declared: “The #Ethereum ETF spot race has officially begun” and expects the final deadline to be around May 23, 2024.

Form 19b-4 is filed by self-regulatory organizations such as stock exchanges to request a rule change from the SEC, while Form S-1 simply states that the company intends to exchange in the country.

Securities regulators are now obliged to review 19b-4 filings and make a decision, although the SEC can also delay a decision as it did with spot bitcoin ETFs.

ARK Invest and 21Shares jointly filed an S-1 with the SEC on Sept. 6, although VanEck’s S-1 filing dates back to July 2021.

Meanwhile, Seifat expect More spot Ethereum ETF filings will follow in the coming days.

related: Ethereum ETF Pending Approval – Grayscale, VanEck & More File SEC Applications

On Aug. 17, the securities regulator reportedly expressed interest in approving an ethereum futures investment product, while several firms, including Grayscale Investments and BlackRock, are currently working towards approval for a spot bitcoin ETF.

Magazine: How to Protect Your Cryptocurrency in a Volatile Market – Engagement from Bitcoin OG and Experts