Breaking: US SEC Approves 8 Spot Ethereum ETF

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As a seasoned crypto investor with a keen interest in the regulatory landscape, I can’t help but feel a sense of excitement and optimism following the SEC’s approval of eight spot Ethereum ETFs. This development comes on the heels of the recent approval of spot Bitcoin ETFs, which is a positive sign for investment products in the digital assets space in the U.S.

The SEC in the United States has given its approval to eight different Ethereum Exchange-Traded Funds (ETFs) via a single order.

The latest approval aligns with recent green lights given to Bitcoin spot ETFs, marking a favorable trend for investment vehicles in the American digital asset market.

Spot Ethereum ETFs Approval Process 

The SEC’s endorsement of 19b-4 applications for noteworthy crypto ETFs like those from BlackRock, Fidelity, and Grayscale signifies a notable milestone in the cryptocurrency sector. Nevertheless, despite gaining approval for these issuers’ 19b-4 forms, trading on these ETFs won’t commence until their S-1 registration statements become effective.

As a researcher, I’ve observed that the Securities and Exchange Commission (SEC) has recently initiated discussions with issuers regarding their S-1 forms. However, the duration of this interaction remains uncertain. According to Bloomberg ETF analyst James Seyffart, the process may be completed within a few weeks for some applications. Nevertheless, there have been instances where it took longer than three months to finalize the review.

Breaking: US SEC Approves 8 Spot Ethereum ETF

The SEC’s unexpected approval came as a surprise, given its previous lack of engagement with issuers. In an unexpected turn of events, the SEC asked issuers to submit their 19b-4 forms earlier in the week, a request that caught some within the SEC off guard.

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2024-05-24 00:50