ETH ETFs Update📉
FINALLY:✅✅
The U.S. Securities and Exchange Commission (SEC) has officially approved the launch of spot Ethereum (ETH) exchange-traded funds (ETFs) in the United States. This landmark decision comes just five months after the SEC approved spot Bitcoin ETFs, marking a significant shift in the regulatory landscape for crypto in the US.
The SEC has approved 19b-4 filings from several major financial institutions, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise[2][5]. However, ETF issuers still need the SEC to sign off on their respective S-1 registration statements before the spot ETH ETFs can officially begin trading.
The approval of Ethereum ETFs is expected to attract billions in institutional capital to the ETH market. Standard Chartered Head of Digital Assets Research Geoff Kendrick predicts inflows of $15 to $45 billion in the first 12 months. The move is seen as a significant step towards greater accessibility of Ethereum to institutional investors.
The SEC's decision comes amid a shift in the Biden Administration's stance on crypto, following former President Trump's pledge to support the industry and foster a business-friendly environment in the US. The approval of Ethereum ETFs, along with the passage of the FIT21 crypto bill, suggests a more favorable regulatory environment for the crypto industry in the United States.