Big Win For Ethereum As The SEC Approved All Spot Ethereum ETFs
What's Next for Spot Ether ETFs After SEC Approval?
My Dear Readers!
Big news! The U.S. Securities and Exchange Commission (SEC) has just approved several spot Ether (ETH) exchange-traded funds (ETFs). This is the second major regulatory milestone we've seen this year after Bitcoin ETF Approval.
Regulatory Green Light
Filing approving spot Ether ETFs. Source: SEC
On May 23, the SEC gave the green light to filings from major financial firms like VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. These approvals allow spot Ether ETFs to be listed and traded on their exchanges. This is noteworthy given the ongoing debate about whether the SEC views Ether as a security.
What’s Next for ETF Issuers?
While the 19b-4 filings are approved, issuers still need the SEC to approve their S-1 registration statements before trading can start. This process could take days, weeks, or even months. The SEC recently urged applicants to speed up their filings, signaling a push to move things along.
Key Changes
One major change in several filings is the removal of staking. This amendment shows how the regulatory environment is adapting and how the SEC is paying close attention to cryptocurrency activities.
For a more detailed information and the latest updates on this development, visit Coinpedia.
The spot Ether ETF approval comes four and a half months after the SEC approved several spot Bitcoin ETF applications on January 10, marking an industry first.
According to Coinpedia Markets, the price of ETH rose to over $3,900 immediately following the SEC announcement, then dropped to $3,812 at the time of publication.
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