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Another milestone for the crypto ecosystem: SEC approves Ethereum spot ETFs

Another milestone for the crypto ecosystem: SEC approves Ethereum spot ETFs

SEC filings list eight Ethereum ETFs from VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock’s iShares Ethereum Trust.

Spot ETFs Ethereum been approved by the US Securities and Exchange Commission (SEC). They gave the green light to all 8 proposed at the same time (just as they had done in January when they approved bitcoin ETFs).

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

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

Exchange Traded Funds are investment funds that are listed and traded in the same way as a corporate stock on traditional stock exchanges. and are designed to track the price of the assets that comprise it (in this case, ether) forming a unit of value.

The move is expected to bring a substantial influx of institutional capital into the Ethereum market, with Standard Chartered head of digital asset research Geoff Kendrick predicting inflows of between $15 billion and $45 billion in the first 12 months.

– Developing –

Source: Ambito

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