Securities Exchange announcements or major financial news outlets

SEC Approves 8 Spot Ethereum ETFs Including BlackRock and Fidelity

May 23, 2024, 09:13 PM

The U.S. Securities and Exchange Commission (SEC) has approved multiple spot Ethereum ETFs, marking a significant milestone for the cryptocurrency industry. The approval includes eight ETFs from prominent financial institutions such as BlackRock, Fidelity, and VanEck. The SEC approved the 19b-4 forms, allowing for the listing and trading of these ETFs on national securities exchanges, including Cboe, NYSE Arca, and Nasdaq. This decision is seen as a major victory for the crypto community, aligning Ethereum closer to being recognized as a commodity-based trust. The approval is expected to enhance mainstream investor access to Ethereum and potentially boost its market appeal.