As anticipation grows for the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the United States, House lawmakers are urging securities regulators to approve the new product. On May 22, a bipartisan group of House lawmakers, including Majority Whip Tom Emmer and Democrat Josh Gottheimer, sent a letter to SEC Chairman Gary Gensler, asking the SEC to approve a spot Ethereum ETF. The lawmakers believe that a potential spot Ethereum ETF would provide investors with an opportunity to invest in ETH in a more regulated and secure form. “We urge the Commission to maintain a consistent and fair approach in its review of pending applications for ETFs backed by other digital assets,” the lawmakers wrote, adding: “Specifically, the Commission should apply the same principles it set out when approving spot Bitcoin ETPs when evaluating pending Ethereum ETF applications, as the legal considerations associated with Bitcoin also apply to Ethereum.”
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