Here are the updates on the approval of Ethereum ETF ¹ ² ³ ⁴ ⁵:
- The U.S. Securities and Exchange Commission (SEC) has approved a rule change that will allow the creation of Ethereum exchange-traded funds (ETFs).
- The approval is a historic milestone for Ethereum, the second-largest cryptocurrency, and is expected to attract a significant influx of institutional capital into the Ethereum market.
- The SEC approved the 19B-4 form that allows for the offering and listing of ETFs, but the funds' S-1 filings must still be greenlit before investors can buy them.
- Eight ETFs from firms like VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest 21Shares, Invesco Galaxy, and BlackRock have been approved for listing on the Nasdaq, NYSE Arca, and Cboe BZX exchanges.
- Analysts predict that the Ethereum ETF could push the price of Ethereum to $10,000, giving the cash inflow and credibility the Ethereum project will receive following its ETF approval.
