Ethereum spot ETF officially approved by SEC

True to experts' previous predictions, on the morning of May 24, the US Securities Commission (SEC) officially approved 8 Ethereum spot ETFs, marking a 180-degree change in just a few days. via.

Specifically, the SEC approved the Ethereum spot ETF proposal of Grayscale and Bitwise to trade on the NYSE stock exchange; iShares (BlackRock) on Nasdaq; along with VanEck, ARK/21 Shares, Invesco, Fidelity and Franklin Templeton on the Cboe BZX stock exchange.

The SEC has only approved Ethereum ETF proposals based on 19b-4 filings, according to Bloomberg's ETF analysts. According to proper procedures, ETF issuers need to complete the S-1 file and submit it to the securities commission to be able to determine the time to officially start trading.