SEC Gives Preliminary Approval to at Least Three Asset Managers to Launch Ethereum ETFs
According to sources, the United States Securities and Exchange Commission has given initial approval to three asset managers for their proposed Ether exchange-traded funds. This has led to speculation that the ETFs may begin trading as early as next Tuesday.
The SEC has stated that final approval is contingent on the applicants submitting their final offering documents before the end of this week, as reported by three industry sources on July 15 by Reuters.
The three approved applicants are BlackRock, Franklin Templeton, and VanEck. Other asset managers, such as Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy, are also expected to launch their Ether products next week.
Sources suggest that the SEC intends to launch all eight spot Ether ETFs simultaneously, similar to their approach with spot Bitcoin ETFs.
