Nexo

Join the hunt for $12,000,000+ in NEXO Tokens!

Learn More
English
Home » Ethereum » BREAKING: Ethereum spot ETFs approved by SEC

BREAKING: Ethereum spot ETFs approved by SEC

by

Ethereum ETFs expected to attract billions in institutional capital.

Golden Ethereum ETF symbol.

Share this article

The US Securities and Exchange Commission said it has approved the launch of spot Ethereum ETFs for accelerated launch, according to a document uploaded to the agency’s website.  

“After careful review, the Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange,” the document states.

The SEC filings list eight Ethereum ETFs from VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock’s iShares Ethereum Trust, proposed for listing on Nasdaq, NYSE Arca, and Cboe BZX Exchange.

Ethereum ETFs face a weeks-long process of finalizing S-1 registration statements, a form required by the SEC for ETFs to list securities, and establishing exchange agreements through multiple rounds of SEC communication.

The move is expected to bring a substantial influx of institutional capital into the Ethereum market, with Standard Chartered Head of Digital Assets Research Geoff Kendrick predicting inflows of $15 to $45 billion in the first 12 months.

To address SEC concerns, potential spot ETH ETF issuers, including Fidelity, Franklin Templeton, Ark, Invesco, Grayscale, Bitwise, and VanEck, have updated their filings to confirm they will not stake ETH for yield.

Earlier this week, Bloomberg analysts Eric Balchunas and James Seyffart have increased the odds of a spot Ethereum ETF being approved this month from 25% to 75%.

The approval of Ethereum ETFs and the passage of the FIT21 crypto bill suggest a shift in the Biden Administration’s stance on crypto, following former President Trump’s pledge to support the industry and foster a business-friendly environment in the US.

The approval comes just five months after the SEC gave the green light to 11 spot Bitcoin ETFs, marking a significant shift in the regulatory landscape for crypto in the US.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.