After ten years of hard work, Ethereum explodes!
According to official information from the SEC, it has officially approved the S-1 applications of multiple ETF issuers, and the Ethereum spot ETF has been officially approved for listing and trading, and initial trading is expected to begin soon.
According to the content of the notice, the SEC has notified at least two of the eight companies that applied to launch the first US spot Ethereum ETF that their products can start trading on Tuesday. Products from BlackRock, VanEck and six other companies will begin trading on three different exchanges on Tuesday morning: the Chicago Board Options Exchange (CBOE), Nasdaq and the New York Stock Exchange, all of which confirmed that they are ready to start trading.
This represents another milestone in the crypto industry, and institutions and analysts in the crypto industry have expressed their views.
Cryptocurrency trading platform Coinbase officially stated that today, the U.S. Securities and Exchange Commission (SEC) approved the application of 9 spot Ethereum ETFs.
Bitcoin ETF was approved first, attracting more attention; before the approval of the U.S. spot ETF, the market size of Bitcoin's exchange-traded products (ETP) was larger than that of Ethereum; the lack of staking function made the Ethereum ETF relatively less attractive; Bitcoin is more relevant as a financial asset, while Ethereum focuses more on decentralized applications (dApp) and on-chain use. "
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Two months ago, the Ethereum spot ETF went from no one optimistic and the approval rate was only 7% to the approval rate soaring to 75% overnight. In the early morning of May 24, the U.S. Securities and Exchange Commission approved the 19b-4 forms of multiple Ethereum spot ETFs, including ETFs from BlackRock, Fidelity and Grayscale.
In short, as a crypto asset class with smart contracts, ETH will have a profound impact on the crypto industry after the spot ETF is passed.
