US SEC approves exchange applications to list spot ether ETFs
The U.S. SEC approved applications from Nasdaq, CBOE, and NYSE to list ETFs tied to ether, potentially allowing them to trade later this year. This unexpected approval is significant for the cryptocurrency industry, which anticipated rejection. Nine issuers, including VanEck and BlackRock, aim to launch these ETFs. SEC officials recently asked exchanges to quickly adjust their filings, leading to a scramble. Approval is needed for ETF registration statements before trading can start, with no set timeline. The SEC's approval of bitcoin ETFs after a court challenge last year set a precedent. This decision supports the industry's move into mainstream finance, alongside recent UK regulatory approval and U.S. House passage of a pro-crypto bill.