According to TechFlow, BlackRock has submitted an amended application for its proposed spot Ethereum exchange-traded fund (ETF), which is the first substantial progress in the market availability of Ethereum ETFs since the new financial instrument was approved last week.

The SEC's approval is seen as a major shift in U.S. crypto policy, bringing more opportunities for digital assets such as Ethereum. In addition, other applicants may follow suit, and it is expected that the spot Ethereum ETF may be launched next month.