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SEC Approves Eight Ethereum ETFs from Major Issuers Including NYSE, CBOE, and Nasdaq
May 24, 2024, 06:08 AM
The U.S. Securities and Exchange Commission (SEC) has approved the 19b-4 forms for eight spot Ethereum ETFs from major issuers including BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. This approval marks a significant milestone for the Ethereum community and the broader cryptocurrency market. However, the ETFs cannot begin trading until the SEC approves the S-1 registration statements, a process that could take weeks or months. The approval signifies the SEC's view of Ethereum as a commodity rather than a security, reducing regulatory uncertainty. This development is expected to increase accessibility to Ethereum for traditional investors and could pave the way for more cryptocurrency ETFs in the future. Exchanges such as NYSE, CBOE, and Nasdaq are involved in listing these ETFs.
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