True to experts' previous predictions, on the morning of May 24, the US Securities Commission (SEC) officially approved 8 Ethereum spot ETFs, marking a 180-degree change in just a few days. via.
Specifically, the SEC approved the Ethereum spot ETF proposal of Grayscale and Bitwise to trade on the NYSE stock exchange; iShares (BlackRock) on Nasdaq; with VanEck, ARK/21 Shares, Invesco, Fidelity and Franklin Templeton on the Cboe BZX stock exchange.
However, Bloomberg ETF analysts say the SEC has only approved Ethereum ETF proposals based on 19b-4 filings. According to proper procedures, ETF issuers need to complete the S-1 file and submit it to the securities commission to be able to determine the time to officially start trading.
NOTE: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!
Specifically, the SEC approved the Ethereum spot ETF proposal of Grayscale and Bitwise to trade on the NYSE stock exchange; iShares (BlackRock) on Nasdaq; with VanEck, ARK/21 Shares, Invesco, Fidelity and Franklin Templeton on the Cboe BZX stock exchange.
However, Bloomberg ETF analysts say the SEC has only approved Ethereum ETF proposals based on 19b-4 filings. According to proper procedures, ETF issuers need to complete the S-1 file and submit it to the securities commission to be able to determine the time to officially start trading.
NOTE: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!