SEC Gives Approval to Spot Ether ETFs

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In a major decision this year, the United States Securities and Exchange Commission has granted permission for spot Ether exchange-traded funds (ETFs) to operate in the country.

This move was made following the SEC’s approval of several 19b-4 filings from major institutions such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. These filings have allowed for rule changes that will enable spot Ether ETFs to be listed and traded on their respective exchanges.

This decision was made despite previous speculations that the SEC may classify Ether as a security. Although the 19b-4s have been approved, the ETF issuers must still obtain the SEC’s approval for their respective S-1 registration statements before the spot Ether ETFs can officially begin trading.

According to industry experts, this process could take anywhere from a few days to several months. On May 20, the SEC reportedly advised applicants to expedite their 19b-4 filings. One notable change in these filings is the removal of staking functionalities.

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