According to Reuters: The US Securities and Exchange Commission (SEC) may be ready to approve Ether exchange-traded funds (ETFs). According to four sources familiar with the process, the SEC has asked exchanges such as Nasdaq, CBOE and NYSE to refine their spot Ether ETF applications. The unprecedented move came as a surprise to an industry that was bracing for rejection.

Ether's price jumped as much as 18% on Monday due to this development and was up another 8.6% at $3,802 late Tuesday morning.

The SEC is expected to make a decision on VanEck and ARK Investments/21Shares' application to list the Ether ETF – submitted via CBOE – later this week. While there was initially no engagement between the SEC, exchanges and issuers on the specifics of the application, the regulator's recent updated request suggests approval is likely. .

Despite growing optimism, these issuers still need SEC approval of the ETF registration statement before trading can begin. There is no fixed time frame for this, meaning the Ether ETF could take several months to start trading.

The SEC's move represents a potential win for the cryptocurrency industry, given the regulator's historical hesitation amid concerns around market manipulation, particularly overseen by Crypto skeptic Gary Gensler. First Ether ETF Applications Filed After SEC Approves ETFs Tied to Ether Futures Contracts #BinancePizzaVN #BinancePizzaVN #WriteRean2👏 #Write&Earn