The U.S. Securities and Exchange Commission (SEC) is showing signs of approving the Spot Ethereum Etf, indicating a potential reversal of its previous position.
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The U. S. Securities and Exchange Commission (SEC) is showing signs of approving the Spot #MemeWatch2024 #Etf , indicating a potential reversal of its previous position.
According to recent reports, the U. S. Securities and Exchange Commission could approve applications for Ethereum ETFs as early as this Thursday.
The price of Ethereum rose 23% following news of the possible approval of the ETF spread.
The Securities and Exchange Commission (SEC) is making big changes to give the green light to Ethereum-focused exchange traded funds (ETFs). A week ago, all bets were off. It seems giants like #BlackRock and VanEck were destined to get a negative response to the proposal for ETFs to directly own ether.
But we are on the cusp of what could be a full-blown SEC approval. Ethereum currently boasts a whopping $455 billion in market cap, second only to #bitcoin . And now it will become even more accessible to both regular and institutional investors.
The driving force behind the sudden approval was the SEC staff's reported trend of approving ETFs. A detailed commentary on the filing will be published and a decision will be approved as early as this Thursday.
On Thursday, the SEC will also decide on the application from vaneck and ARK/21b-19shares 4, which, if approved, will pave the way for the launch of spot Ethereum Etf. A similar deadline expires next month for other major players in the sector, including #Grayscale Investments, Fidelity, Blackrock and Franklin Resources.
The SEC is reportedly coordinating the launch of multiple Ethereum ETFs simultaneously, a strategy reminiscent of the launch of the spot Bitcoin Etf, which received multiple approvals on May 1 of this year.
Today, Fidelity and Grayscale made a high-profile announcement about their application.
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