🛑🛑‼️Urgent Update on $ETH #etherreum SPOT ETF‼️🛑🛑
SEC Approves All Spot Ethereum ETFs
The culmination of a tumultuous journey has finally arrived, as the US Securities and Exchange Commission (SEC) has approved the issuance of Spot Ethereum ETFs. Indeed, the decision arrived just five months after the agency granted similar approval to the Spot Bitcoin ETFs to start the year.
The decision marks the approval of the country’s second crypto-based ETF. Moreover, it represents a monumental shift in the overall accessibility of the second-largest cryptocurrency to institutional investors.
BREAKING: SEC officially approves all spot Ethereum ETFs.
The official filing was published briefly by the SEC, but it was taken down shortly after by the regulator, possibly due to being leaked early. The filing has since been republished. The SEC initially looked to delay the approval decision as long as they could due to previous sentiment against cryptocurrencies, but now the ETF market will include both Bitcoin and Ethereum. Issuers will still have to wait for their individual filings to be approved.
That changed significantly at the start of May’s second to last week. Seemingly out of nowhere, Bloomberg increased the approval odds from 25% to 75%. Thereafter, the market began anticipating the impending arrival of the Ethereum-based investment offering.
Now, that anticipation has been rewarded as the SEC has approved all Spot Ethereum ETFs. The landmark decision means that the United States now features crypto-based ETFs for the two most prominent digital assets in the world. Moreover, it is a critical part of a greater transition for the country’s perspective on the assets.
