SEC Poised to Approve First Spot Ether (ETH) ETF

IconCryptoNewsTerminal Staff12 Jul, 2024

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SEC Poised to Approve First Spot Ether (ETH) ETF

Nate Geraci, CEO of US ETF Store, an ETF expert, recently commented on the potential approval of a spot Ether (ETH) ETF by the U.S. Securities and Exchange Commission (SEC). He stated that the SEC appears to be preparing to review the necessary rule changes, and an approval could come as early as next week. Eric Balchunas, a Bloomberg ETF expert analyst, also expressed anticipation for the SEC's decision. He highlighted the lack of recent updates from the SEC and questioned the delay in approving the ETH spot ETF applications. Cointelegraph had previously reported that the approval of an ETH spot ETF was imminent, according to an anonymous source. This news has sparked excitement within the cryptocurrency community, as it could provide a more accessible and regulated way to invest in Ether. If approved, this spot ETH ETF would be the first of its kind, allowing investors to track the price of Ether directly without having to purchase and hold the asset themselves. This could significantly increase the accessibility and liquidity of the Ether market.

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