SEC Signals Approval for Ethereum Spot ETF Launch Today
CryptoNewsTerminal Staff23 May, 2024
SEC Signals Approval for Ethereum Spot ETF Launch Today
The US Securities and Exchange Commission (SEC) is poised to approve at least one Ethereum spot exchange-traded fund (ETF) for launch today, according to sources cited by The Block. The SEC has reportedly requested issuers of Ethereum spot ETFs to complete updates to their 19b-4 filings by 10 am ET this morning, a strong indication that the SEC will approve these applications today. The approval of a spot Ethereum ETF, which tracks the price of Ethereum held in reserve, would mark a significant development for the cryptocurrency market. It would provide investors with an easy and regulated way to gain exposure to Ethereum without having to purchase and store the cryptocurrency directly. However, the S-1 registration statement applications for these ETFs could take several more weeks to be approved, meaning it may still be some time before any spot Ethereum ETFs officially begin trading.
