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đ¨ đ¨ U.S. SEC Grants Final Approval for Spot Ethereum ETFs
Spot Ethereum exchange-traded funds (ETFs) have received final approval from the U.S. Securities and Exchange Commission (SEC) following weeks of registration amendments. Trading for these newly approved ETFs is set to commence on Tuesday, marking a significant development in the cryptocurrency market.
The registration statement for the spot Ethereum ETF became effective on Monday, paving the way for trading. This includes products from prominent companies such as 21Shares, Blackstone Group, and Fidelity. While the anticipated demand for Ethereum ETFs is lower than that for Bitcoin ETFs, this approval still signifies the evolving acceptance of cryptocurrency as a legitimate asset class.
The launch of 21Shares' Core Ethereum ETF (CETH) is particularly noteworthy, offering investors a new avenue to engage with the cryptocurrency market. The approval process for these ETFs was surprising due to the minimal prior interaction between the SEC and the issuers, underscoring the regulatory body's evolving stance on digital assets.
Despite expectations that demand for Ethereum ETFs will be only 10% to 15% of that for Bitcoin ETFs, the introduction of these products is a crucial step forward. The spot Ethereum market is currently less than one-third the size of the Bitcoin market, reflecting the potential for growth. Future enhancements, such as the inclusion of staking functions, will require further SEC approval, indicating ongoing dialogue between issuers and regulators as the market matures.
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