SEC Greenlights Spot Ether ETFs for Listing and Trading on American Exchanges
In Brief
The SEC has given the green light for various issuers to list and trade spot Ether ETFs, thereby allowing their presence on U.S. markets.
The U.S. Securities and Exchange Commission (SEC) has officially sanctioned the listing and trading of exchange-traded funds (ETFs) focused on Ether, which is the second-largest cryptocurrency globally.
As per a filing from May 23, the SEC has authorized regulatory adjustments from a range of issuers such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. This means these companies can now list and trade their spot Ether ETFs in the U.S.
This groundbreaking ruling comes just a few months after the SEC approved Bitcoin spot ETFs, marking another significant milestone in the cryptocurrency sector.
James Seyffart, an ETF expert, stated, “This approval signifies a crucial turning point and opens doors for broader mainstream acceptance of Ethereum.” He also mentioned that the ETFs may not commence trading immediately.
Although the 19b-4 rule adjustments have been validated, Seyffart noted that issuers need final effectiveness from the SEC for their S-1 registration statements before the official launch of the funds. This concluding phase could take anywhere from a few days to several weeks, or even months.
The SEC’s approval arrives amidst discussions about whether to classify Ether as a security and follows the passage of crypto legislation in the U.S. House, aiming to clarify regulations in the industry.
Ether, the main cryptocurrency on the Ethereum blockchain, has demonstrated remarkable growth and widespread use, particularly in areas such as decentralized finance (DeFi) and non-fungible tokens (NFTs). The introduction of these spot ETFs will offer investors a regulated and straightforward avenue to engage with this digital asset.
Disclaimer
In line with the Trust Project guidelines Please remember that the content on this page is not intended to serve as legal, tax, investment, or financial guidance. It’s essential to only invest what you can lose and seek independent financial advice if needed. For further details, we'd recommend checking the terms and conditions and support resources provided by the issuer or advertiser. MetaversePost strives for accurate and impartial coverage; however, market dynamics can change without prior notice.
