🔺 The US Securities and Exchange Commission (SEC) has granted preliminary approval to three asset managers for their spot exchange-traded funds (ETH ETFs). This could pave the way for trading to begin as early as next Tuesday.

✅ Approved candidates:

🔹BlackRock

🔹Franklin Templeton

🔹VanEck

Additionally, Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are also in the race to launch their Ether products next week. All eight spot Ether ETFs are expected to launch simultaneously, similar to how the SEC previously handled spot Bitcoin ETFs.

🔵 Bloomberg ETF analyst Eric Balchunas said issuers must file their final S-1 filings by July 16, detailing the fees involved. The SEC is expected to approve these filings next Monday, allowing trading to begin on Tuesday, July 23.

Katherine Dowling, Chief Compliance Officer at Bitwise, noted that there are fewer issues in the revised S-1 filings, suggesting a launch is imminent. Bitwise Chief Investment Officer Matt Hougan predicts spot Ether ETFs could attract up to $15 billion in capital in the first 18 months, similar to the performance of spot Bitcoin ETFs since launch.

✅ If approved, spot Ether ETFs will be listed on Nasdaq, the New York Stock Exchange and the Chicago Board Options Exchange. 💎 Ethereum is currently trading at $3,484, up 6.7% in the past 24 hours.

🌐 Source: https://t.me/cryptoanalysisvn/1/1796