SEC Approves Ethereum Applications, Now What?

The US Securities and Exchange Commission (SEC) has approved applications to establish a spot Ethereum ETF.

The SEC has approved the 19b-4 filings that exchanges submit to list Ethereum ETFs. However, in order for them to enter the market, S-1 files must also be approved.

“A week ago, I would have said you were crazy if you thought these ETFs would get approval from the SEC,” said Bloomberg Intelligence ETF analyst James Seyffart.

Companies trying to establish an Ethereum ETF include Grayscale, BlackRock, Fidelity, VanEck, Franklin Templeton, Ark/21Shares and Invesco/Galaxy.

“There will likely be a gap before S-1s are approved,” Seyffart said. “My guess is that this will take at least a week, probably longer,” he said.