Breaking News: SEC Clears Hurdle for Ethereum ETFs
The U.S. Securities and Exchange Commission is moving towards approving eight spot Ethereum ETFs, marking a significant shift in expectations for crypto investors.
Spot Ethereum ETF Approvals
- BlackRock, Fidelity, VanEck, Grayscale, Bitwise, Ark, Franklin Templeton, and Invesco Galaxy have all received approval for form 19b-4 filings simultaneously
- Full approval hinges on the SEC’s green light for the firms’ S-1 registration filings
Unexpected Turnaround
- Expectations changed abruptly when the SEC altered its stance on the filings, following procedures similar to those for Bitcoin ETF approvals
- Bloomberg analyst Eric Balchunas warns that trading for the Ethereum ETFs may still be a few weeks away
“TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!”
Market Response
- Ethereum prices have increased by 1.5% in the last 24 hours, reaching $3,804
- Traders anticipate further movement in the coming days as the approval process unfolds
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Hot Take: SEC Paves the Way for Ethereum ETFs
The Securities and Exchange Commission’s approval of spot Ethereum ETF filings represents a significant milestone for the crypto market, signaling a new era of investment opportunities for traders.
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