ETH Spot ETF Approvals Expected Imminently

IconCryptoNewsTerminal Staff11 Jul, 2024

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ETH Spot ETF Approvals Expected Imminently

The U.S. Securities and Exchange Commission (SEC) is likely to request only one more round of document updates from filers of Ethereum (ETH) spot exchange-traded funds (ETFs), according to sources cited by cryptocurrency media outlet The Block. "The expectation among filers is that an ETH spot ETF approval is imminent … That said, before final approval, the SEC could request minor revisions or supplemental filings," the sources said. The news comes as a positive sign for the crypto industry, which has been eagerly awaiting the approval of a spot ETF for ETH. A spot ETF would allow investors to gain exposure to the price of ETH without having to purchase the underlying asset. The SEC has been hesitant to approve spot ETFs for cryptocurrencies in the past, citing concerns about market manipulation and volatility. However, the recent approval of a Bitcoin futures ETF by the SEC has given hope to those who believe that a spot ETF for ETH is also possible. If approved, an ETH spot ETF would be a major milestone for the cryptocurrency industry. It would provide investors with a more convenient and accessible way to invest in ETH, and it could also help to legitimize the asset class in the eyes of mainstream investors. ```

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