Step from SEC for spot ethereum ETFs
The US Securities and Exchange Commission (SEC) has approved all companies applying for a spot ethereum Exchange Traded Fund (ETF).
The US Securities and Exchange Commission has approved all companies that applied to trade Ether ETFs.
The SEC has approved rule changes for several groups, including BlackRock, Fidelity, Invesco and Ark Invest, that support ETFs that invest in Ethereum, the native cryptocurrency of the Ethereum blockchain.
A second round of approval will be needed before the products can be brought to market.
Bloomberg ETF Analyst James Seyffart said, “This decision does not mean that trading will start tomorrow.” This is just a 19b-4 approval. S-1 documents also need to be approved and this will take time. “It could take a few weeks or longer.” made his assessment.
The SEC approved spot Bitcoin ETFs in January. Total net inflows into spot bitcoin ETFs exceeded $12 billion.