The post SEC Indicates to Exchanges a Likely Approval for Spot Ethereum ETFs, Listings Expected This Week: Sources appeared first on Coinpedia Fintech News
The U.S. Securities and Exchange Commission (SEC) is reportedly leaning towards approving exchanges for listing Ethereum spot ETFs (Exchange-Traded Funds). According to sources familiar with the matter and a report by Barron’s, the regulatory body made comments that suggest the approval process is moving forward and could be finalized as early as this week.
SEC Is Finally Approving Spot Ethereum ETFs
A recent report from Barron’s suggests that the SEC has indicated it is likely to approve the first spot Ethereum ETF in the U.S. If the SEC approves VanEck’s application, it could pave the way for spot Ether ETFs from ARK 21Shares, BlackRock, Fidelity, Hashdex, and Invesco Galaxy. Fidelity has already updated its application to specify that the Ether tied to their investment vehicle will not be staked, hinting that this might be a necessary condition for approval.
SEC TOLD EXCHANGES IT IS 'LEANING TOWARD APPROVING' SPOT ETH ETF'S: BARRONSSource: DB | Coins: ETH
— db (@tier10k) May 21, 2024
The United States Securities and Exchange Commission (SEC) has reportedly reached out to major U.S. exchanges to update their applications for listing and trading spot Ether (ETH) exchange-traded funds (ETFs) from asset managers.
According to a May 21 Reuters report, SEC officials contacted Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to request updates and changes to existing spot Ether ETF applications ahead of a regulatory deadline. The commission must decide by May 23 whether to approve or deny VanEck’s spot Ether ETF after having delayed the process for 240 days.
