The SEC Greenlights Eight Spot Ethereum ETFs in US
The US Securities and Exchange Commission has approved key regulatory filings for spot Ether (ETH) exchange-traded funds, marking a significant step towards their introduction to the market.
However, they are not yet cleared to trade as the SEC still needs to approve the S-1 filings for investors to be able to purchase them.
This approval comes after a surprising change of heart by the SEC. While they had previously approved spot bitcoin ETFs earlier this year, they had not shown much interest in Ether ETFs.
However, in recent days, the SEC has engaged with issuers of Ether ETFs. James Seyffart, an ETF analyst at Bloomberg Intelligence, stated that a week ago, he would have thought it was unlikely for these ETFs to receive SEC approval.
A spokesperson for Grayscale, one of the potential Ether ETF issuers, confirmed the approval of their 19b-4 form and expressed optimism for further regulatory approvals.
