Ethereum ETFs have been approved by the U.S. SEC.
19b-4 forms for Spot Ethereum ETFs are approved and the S-1 forms are yet to be approved.
The crypto market has experienced some development over the past week, as BTC and ETH prices have surged. After months of anticipation and countless delays, Ethereum ETFs have finally been approved by the U.S. Securities and Exchange Commission (SEC). This regulatory decision adds fuel to the market, a sense of validation for the cryptocurrency’s status, and evokes confidence among investors.
Following the approval of Spot Ethereum ETFs, In an X post, Coinbase Chief Legal Officer Paul Grewal says that Ethereum is effectively deemed a commodity, rather than a security.
According to the statement of Paul, Coinbase is uniquely positioned to benefit from these regulatory advancements, as the approval of the 19b-4 filings mentions Coinbase’s compliance and its ability to overcome complex regulations.
SEC Approves Ethereum ETF in the Row of BTC
After a long wait, 19b-4 forms for Spot Ethereum ETFs have been approved, marking the first steps towards the official approval of all ETH ETFs. Ethereum is joining Bitcoin as the only crypto ETF available on the market, which also might pave the way for more ETFs in the future.
Following the approval of Spot Bitcoin ETFs at the beginning of 2024, all the anticipations were directed toward Ethereum, as it is the second-largest coin in the market. Despite this, Ethereum’s price seems the same; the price graph doesn’t signal anything significant, even though the price might not reflect any glory.
Ethereum ETF 19b-4 forms have been approved, but issuers must wait for their S-1 forms to be approved, which is necessary to offer new securities publicly and to start trading assets. Based on the history of Bitcoin ETFs, this process could take weeks or months.
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