As a seasoned crypto investor with a few years of experience under my belt, I’ve seen my fair share of market ups and downs, regulatory hurdles, and product launches. The approval of a spot Ethereum ETF for trading by the SEC is a significant development that brings both excitement and relief to me and many other investors in this space.
The SEC has given its approval for trading spot Ethereum Exchange-Traded Funds (ETFs), as indicated by the filing of Form 424(b) with the commission for the 21Shares Core Ethereum ETF.
The Ethereum ETF Forecasts Turned Out True
In May, the Securities and Exchange Commission (SEC) gave its green light for trading an Ethereum exchange-traded fund (ETF). Following this decision, under the leadership of Gary Gensler, the commission has been engaging in back-and-forth discussions with potential issuers to secure all necessary approvals for the product’s trading.
Based on recent developments, I believe the trading for this product is anticipated to begin this week. As reported by Eric Balchunas, a senior ETF analyst at Bloomberg, the product is expected to start trading as early as 9:30 am Eastern Time.
The SEC has given its approval for Spot Ethereum Exchange-Traded Funds (ETFs). The necessary paperwork, referred to as 424(b) forms, are being submitted now, marking the final step before the official 9:30am launch on the following day. Let’s get this game started!
— Eric Balchunas (@EricBalchunas) July 22, 2024
Cboe and NYSE Arca are the two exchanges the ETH ETF products are billed to start trading.
This is a breaking news, please check back for updates!!!
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2024-07-23 00:01