OFFICIAL: SEC approves Ethereum spot ETFs. The document is available on the Commission's website.
Comprehensively approved Forms 19b-4 for all filers, including giants #BlackRock,#Fidelityand #Grayscale.
There is no pump growth from#ETHon the news about the approval of spot Ethereum ETFs. At least for now. The price tested the volume level of $3,802 and failed to break through it.
Let us remind you that the SEC and issuers of spot Ethereum ETFs still have to resolve issues with negotiations on Form S-1. Until this issue is resolved, no bidding.
Both#BloombergETF analyst James Seyffart and#Coindeskjournalists are now emphasizing this in the headline of their news.
Quote from Seyffart:
“To be clear, this does not mean they will start trading tomorrow. This is just a 19b-4 approval. S-1 documents also need to be approved, which will take time. We expect this to take a couple of weeks, but may take longer. Should know more within a week or so!”
That is, several weeks or more. What’s funny is that it would be optimal for ETH and altcoins if decisions on Form S-1 were made later. The market needs to be “sweated” with anticipation and “warmed up”.
And this expectation for#ETHgrowth will be even better than that of the spot Bitcoin ETF. Because it is already known that the tool will be approved. And it's just in the details.
