ChainCatcher news, according to The Block, a source revealed that the U.S. Securities and Exchange Commission (SEC) has rejected two Solana spot 19b-4 applications submitted by Cboe BZX.It is reported that the 19b-4 documents are submitted by the exchange on behalf of the issuer. If these documents are published in the Federal Register, the SEC's approval process would begin. Another important document, the S-1 registration statement, is submitted by the issuer and has no deadline.However, since the SEC rejected the 19b-4 forms, they were never published in the Federal Register, and the potential approval or rejection process has not been initiated.Previous news indicated that before Cboe BZX removed the Solana ETF-related 19b-4 forms from its website, the SEC had discussions with potential Solana ETF issuers and expressed concerns about the potential status of Solana as a security.

ChainCatcher news, according to Cointelegraph, since the U.S. approved the Ethereum ETF 19b-4 application on May 23, the amount of Ethereum on exchanges has decreased by approximately 797,000 coins, equivalent to $3.02 billion. The lower exchange reserve means fewer tokens are available for sale, as investors are moving their tokens to self-custody for purposes other than immediate sale.BTC-ECHO analyst Leon Waidmann shared Glassnode data showing that the percentage of Ethereum held by exchanges in circulation supply is also at its lowest level in years, at just 10.6%.

ChainCatcher news, according to CoinDesk, three insiders stated that the U.S. Securities and Exchange Commission has asked exchanges to expedite updates to their 19b-4 applications, indicating that it may approve these applications before the critical deadline (May 23/24). However, this does not mean that the ETF will be approved. Potential issuers also need their S-1 applications to be approved before the products can begin trading. The SEC may take an indefinite amount of time to approve S-1 documents, as there is no deadline for their approval.Additionally, according to one insider, a company negotiating with the SEC stated that a few weeks ago the SEC was still dragging its feet, but now it feels like it is finally on the right track to obtain approval.Moreover, Bloomberg ETF analysts Eric Balchunas and James Seyffart raised the chances of a spot Ether ETF approval from 25% to 75% after hearing rumors about the SEC possibly taking a more favorable stance on the applications. They later corrected their statement, saying that this possibility is related to the approval of the 19b-4.Possibly influenced by this news, the ETH price quickly broke through $3500, peaking at $3592, with a 24-hour increase of over 17%.The SEC is expected to make a decision on the VanEck spot Ether ETF on May 23.ChainCatcher note: Currently, there are seven entities applying for Ethereum ETFs, namely: BlackRock, Fidelity, Invesco&Galaxy, Grayscale, VanEck, 21Shares&Ark, and Hashdex. The approval deadlines for each entity at the SEC are shown in the table below:

ChainCatcher news, Bloomberg ETF analyst James Seyffart stated on X: "Grayscale has withdrawn their 19b-4 filing for the Ethereum futures ETF. In my view, this (the 19b-4 filing) is essentially a Trojan horse document aimed at creating the same conditions that Grayscale won in the GBTC lawsuit (approving futures, rejecting spot). If they don't want to anger the SEC, withdrawing and resubmitting the document would be less work for the SEC. But at the same time, it also means that neither Grayscale nor anyone else can sue."Previous news, according to Cointelegraph, Grayscale has withdrawn its 19b-4 application for the Ethereum (ETH) futures exchange-traded fund (ETF), just three weeks before the securities regulator was set to make a decision. Grayscale submitted a notice of withdrawal for the Grayscale Ethereum futures ETF to the U.S. Securities and Exchange Commission on May 7.