The monumental announcement that the entire cryptocurrency sphere has eagerly awaited has finally transpired: Ethereum Spot ETFs have received the green light from the SEC.
Ethereum Spot ETFs
According to emergent information, the SEC has sanctioned Ethereum Spot ETFs.
The SEC’s endorsement of Ethereum Spot ETF as “commodity-based trusts” represents a significant triumph for the cryptocurrency domain.
The SEC has given the nod to 19b-4 forms for eight ETFs, encompassing entities like BlackRock, Fidelity, and Grayscale.
Nevertheless, despite the ETFs’ approval, the S-1 forms, which are essential for trading, still require sanctioning. This approval is anticipated imminently.
The SEC has initiated dialogues with applicant firms regarding their S-1 forms. The duration of this process remains uncertain, though some pundits speculate it could span several weeks.
Bloomberg ETF analyst James Seyffart commented on the matter:
“This does not imply that the approved ETFs will commence trading forthwith. This is merely a 19b-4 approval. The S-1 documents also necessitate approval, which will take time. We project it to require a few weeks, but it might extend further. We will have more clarity in a week.”
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