As a seasoned crypto investor with several years of experience under my belt, I can’t help but feel a sense of excitement and validation at this latest development. The approval of spot Ethereum ETFs from Grayscale and Bitwise by NYSE Arca and the SEC is a significant milestone in the evolution of the crypto market.
The NYSE Arca, located in New York, has given its blessing for the debut of Ethereum spot ETFs from Grayscale and Bitwise on its exchange, making it officially approved for trading.
Grayscale & Bitwise Ethereum ETF Gets SEC Nod
According to SEC filings, NYSE Arca has granted approval for the registration and exchange listing of Ethereum spot ETFs from Grayscale and Bitwise in compliance with the Securities Exchange Act of 1934.
Obtaining this certification is essential because it indicates regulatory approval and a formal method for introducing the mentioned financial products to the market. The ETFs serve to offer investors a controlled way to invest in Ethereum, eliminating the necessity of holding the cryptocurrency directly.
The SEC’s approval of 19b-4 forms in May marked the first phase of the listing process for NYSE Arca. This crucial approval permitted NYSE Arca to move forward with granting its own approvals for the ETFs. The final stage, anticipated to be completed by Monday, entails the SEC’s authorization for the registration statements to take effect. Once this occurs, the ETFs will be able to initiate trading on Tuesday.
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2024-07-22 19:22