Ethereum ETF May Be Approved by SEC on July 4
The cryptocurrency industry is eagerly awaiting the debut of Ethereum exchange-traded funds (ETFs). The SEC may approve spot Ethereum ETFs as early as July 4. This comes after discussions between regulators and asset managers, industry leaks, and other interested parties.
SEC Chairman Gary Gensler previously said that he is confident in the approval process for spot Ethereum ETFs. He pointed out that asset managers are currently under pressure. This is because, in order for their registration statements to be valid, they must provide full disclosure. Although there is still work to be done, Gensler said that everything is going well.
Recently, executives of companies awaiting approval revealed that the document preparation process currently only needs to resolve "minor" issues. But unless these documents are authorized, the ETF cannot be launched.
How many asset managers are seeking approval from the SEC?
A total of eight asset managers are currently awaiting approval from the SEC for Ethereum spot ETFs. These include BlackRock, VanEck, Franklin Templeton, Fidelity, ARK 21Shares, Invesco, Bitwise and Grayscale Investments.
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