🎉 Breaking: SEC Approves Spot #Ethereum ETF Applications
In a landmark decision on May 23, the US Securities and Exchange Commission approved several applications for Ethereum spot ETFs.
On May 21, Ethereum experienced a significant 18% price jump amid fresh speculation that Ether ETF spot applications could receive a regulatory green light by the May 23 deadline. Bloomberg ETF analysts Eric Balchunas and James Seyffarth raised the odds of approval to 75% from 25% after noting increased "chatter" about the SEC urging applicants to speed up their 19b-4 filings.
On May 21, within 25 minutes, the Chicago Board Options Exchange (CBOE) submitted amendments to its 19b-4 filings for five potential Ethereum ETF issuers - Fidelity, VanEck, Franklin Templeton, Galaxy/Invesco and ARK/21Shares. Reuters reported that regulators asked Nasdaq, CBOE and the NYSE to revise their spot bids for the ETF, signaling approval.
Modified applications from Fidelity, Franklin Templeton, Invesco Galaxy, BlackRock, Bitwise, VanEck and ARK 21Shares removed provisions related to Ethereum staking. This indicates that approved ETFs will hold Ethereum directly without participating in stake verification or generating new Ether.
