SEC approves spot Ether ETF
The U.S. Securities and Exchange Commission (SEC) Officially approved spot Ether exchange-traded fund (ETF), This marks the second landmark approval this year.
The approval, announced May 23, includes 19b-4 filings from major financial firms. Includes VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
With this decision, these companies List and trade Ether ETF on each exchange.
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The SEC Whether to apply Hashdex spot Ether ETF has not yet been decided, The final deadline is approaching on May 30th.
However, before the ETF officially begins trading, each issuer The S-1 registration statement still requires SEC approval. This additional step could take anywhere from a few days to several months, according to Bloomberg analysts James Seyffart and Eric Balchunas.
The approval came recently. This is speculation about the SEC’s position on whether Ethereum should be classified as a security.
But optimism grew further when the SEC urged applicants on May 20 to amend their applications. One of the major fixes is: Removal of staking from multiple documents.
After the announcement, Ether (ETH) price soared above $3,900. At the time of writing, it stands at $3,801.80 before settlement.
This Approval for a Spot Ether ETF This follows the SEC’s previous approval of several spot Bitcoin ETF applications on January 10th. This is a historic first in the industry.
SEC decision This is consistent with the U.S. House of Representatives’ recent vote in favor of the 21st Century Financial Innovation and Technology Act. The bill aims to define the roles of the SEC and the Commodity Futures Trading Commission. But it still needs Senate approval and the president’s signature to become law.
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