PANews reported on July 16 that according to Reuters, three industry sources said that the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies to start trading Ethereum spot ETFs starting next Tuesday, and a total of eight asset management companies hope to launch such funds. Sources said that the approval is subject to the applicant submitting final issuance documents to the regulator before the end of this week. One of the people said that it is expected that all eight companies will launch such funds at the same time. A spokesman for the U.S. Securities and Exchange Commission (SEC) said that the agency does not comment on individual applications.

Industry sources revealed that the applications of eight asset management companies, including BlackRock, VanEck and Franklin Templeton, are likely to be approved by the SEC on Monday afternoon, July 22, and the relevant products are expected to start trading the next day.

Earlier today, sources said that the Ethereum ETF will begin trading next week as the US SEC collects the final version of the registration statement.