💥💥💥 #Ethereum #ETFs Near Launch as #BlackRock Updates SEC Filing

BlackRock, a major financial institution, has recently updated its SEC filing for a proposed spot Ethereum exchange-traded fund (ETF), signifying real progress toward making an ETH-based ETF available. Bloomberg ETF analyst James Seyffart mentioned on Twitter that this update indicates the market engagement anticipated, suggesting movement from both issuers and the SEC towards launching spot Ethereum ETFs.

Eric Balchunas, another Bloomberg analyst, shared similar views, seeing this as a positive development and predicting other applicants might follow BlackRock's lead. Balchunas speculated that, with another round of SEC comments, spot Ethereum ETFs could debut as early as next month, with a target date around July 4.

BlackRock initially filed for its Ethereum ETF in November, alongside ARK Invest, Fidelity, and VanEck. Additionally, crypto custodian Grayscale aims to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum ETF, similar to the approval process for spot Bitcoin ETFs, which were approved in January.

The approval of spot Bitcoin ETFs, which now hold over one million Bitcoin, has raised expectations for similar funds based on Ethereum, potentially boosting market sentiment. Initial skepticism about ETH-based ETFs following Bitcoin's approval has shifted positively, especially with recent reports suggesting the SEC might approve them after all.

Many see the SEC's potential approval of Ethereum ETFs as part of a broader change in U.S. crypto policy, highlighting the growing impact of the digital assets industry, especially in an election year.

Source: decrypt.co

#BinanceSquareTalks