SEC approves 8 Ethereum ETFs "This is Interesting Thing"
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The SEC has approved eight Ethereum ETFs in an omnibus order. This comes just four months after the agency approved a spot Bitcoin ETF for the first time. The US Securities and Exchange Commission approved eight spot Ethereum ETH +1.11% ETFs in an ominbus order, confirming a last-minute scramble to get them done. The SEC approved form 19b-4 for ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.
Even though the form has been approved, the ETF issuer must have an effective S-1 registration statement before trading can begin. The SEC has begun conversations with issuers about their S-1 forms but only recently. It is unclear how long this process will take but some analysts speculate that it could take weeks.
โI think if they work really hard it could be done in a few weeks, but there are many examples of this process taking more than 3 months historically,โ added the Bloomberg ETF analyst.