In a second landmark decision this year, the US Securities and Exchange Commission (SEC) has given the green light to spot Ethereum ETFs (spot Ether ETFs) in the United States.

In a May 23 filing, the SEC approved 19b-4 filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise — approving rule changes allowing ETFs Spot Ethereum is listed and traded on their respective exchanges.

This landmark decision comes despite speculation that the securities regulator is investigating whether Ether (ETH) should be considered a security.

Spot Ether ETF approval filing. Source: SEC

Although the 19b-4 filings have been approved, ETF issuers still need the SEC to sign off on their respective S-1 registration statements for the spot Ethereum ETFs to officially begin trading. Industry analysts say this could take days, weeks or even months. The SEC reportedly asked applicants to expedite their 19b-4 filing by May 20. The removal of staking was the most notable amendment seen in some of the filings.

The SEC did not announce approval of Hashdex's Ethereum spot ETF application. The asset manager's investment vehicle had its final deadline with the commission on May 30 — ahead of Grayscale, Invesco Galaxy, BlackRock and Fidelity. It is unclear whether the SEC will approve Hashdex's ETF.

The SEC's approval comes a day after members of the United States House of Representatives voted in favor of legislation that many believe will provide more regulatory clarity for the cryptocurrency industry. The Financial Innovation and Technology for the 21st Century Act would clarify the roles of the SEC and the Commodity Futures Trading Commission (CFTC), but still needs to be passed and signed into law by the Senate.

The approval of a spot Ethereum ETF comes four and a half months after the SEC approved several Bitcoin spot ETF applications on Jan. 10, marking an industry first.

Since Bitcoin ETFs were approved, they have accumulated an additional 207,000 bitcoins ($14 billion) compared to the 621,000 bitcoins ($42 billion) held in the Grayscale Bitcoin Trust when it converted to an ETF.

However, Ethereum ETFs may struggle to gain the same level of traction. Bloomberg ETF analyst Eric Balchunas estimates that Ethereum ETFs could gain 10 to 15% in assets over their Bitcoin counterparts. “That would put them at about $5 to $8 billion, which for any normal launch in the first few years. That's pretty good.”

According to data from Coingecko, ETH price rose to over $3,900 immediately after the SEC announcement, then dropped to $3,800 at the time of writing.

Source: https://tapchibitcoin.io/hot-sec-phe-duyet-8-quy-etf-ethereum-bao-gom-blackrock-va-fidelity.html