🤑🤑Ethereum ETFs Approved in Abrupt SEC Policy About-Face

Spot Ethereum ETFs will be traded in the United States, just months after spot Bitcoin ETFs received their own approval from the SEC.

In a stunning reversal, the U.S. Securities and Exchange Commission (SEC) announced on Thursday that it has approved eight applications for spot Ethereum ETFs, effectively green-lighting Ethereum trading on Wall Street.

The following funds were approved in the filing: the converted Grayscale Ethereum Trust, the Bitwise Ethereum ETF, iShares Ethereum Trust, VanEck Ethereum Trust, ARK/21 Shares Ethereum ETF, Invesco Galaxy Ethereum ETF, Fidelity Fund, and Franklin Ethereum ETF.

When will the spot Ethereum ETFs begin trading? It won't be tomorrow. Bloomberg ETF expert James Seyffart suggested in a tweet that it could be a "couple weeks" before the fund managers' S-1 documents are approved to enable trading.$ETH