ETFs
SEC Approves Ether ETFs
The U.S. Securities and Exchange Commission (SEC) on Thursday approved a series of Ether spot exchange-traded funds (ETFs).
The approval includes ETFs from VanEck, BlackRock, Fidelity, Grayscale and others, paving the way for their trading on exchanges.
The SEC’s green light follows a bipartisan call from lawmakers urging the regulator to apply the same principles used for Bitcoin ETFs earlier this year.
Announced on May 23, the move comes amid legislative efforts to define the regulatory roles of the SEC and the Commodity Futures Trading Commission in the crypto industry, the Financial Innovation and Technology for the 21st Act. century being still pending in the Senate.
Trading of Ether ETFs is contingent on the completion of their S-1 registration statements, despite the approval of their 19b-4 filings. This process can take anywhere from a few days to several months.
Historically, the SEC has given the green light to such applications after the market close, with the industry watching the final VanEck Ethereum ETF application deadline for a potential ruling.
The approval process is complex and often requires multiple revisions before the S-1 forms are finalized.