US Regulators Poised to Approve Spot Ether ETFs by July 4
The U.S. Securities and Exchange Commission (SEC) is nearing approval of exchange-traded funds (ETFs) tied to the spot price of ether, potentially as soon as July 4, according to industry sources.
Final Stages of Approval
Eight asset managers, including major players like BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for these funds. Many of these firms successfully launched spot bitcoin ETFs earlier this year, after a prolonged struggle with regulators. Grayscale is also looking to convert an existing trust into an ETF.
Progress and Expectations
Executives at two firms involved in the discussions, who wished to remain anonymous, stated that the process of finalizing the offering documents is now addressing only minor issues. These documents need SEC approval before the ETFs can be launched. A lawyer working with one of the issuers indicated that the approval is likely just a week or two away.
Read More: https://onthenode.com/news/us-regulators-poised-to-approve-spot-ether-etfs-by-july-4
The U.S. Securities and Exchange Commission (SEC) is nearing approval of exchange-traded funds (ETFs) tied to the spot price of ether, potentially as soon as July 4, according to industry sources.
Final Stages of Approval
Eight asset managers, including major players like BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for these funds. Many of these firms successfully launched spot bitcoin ETFs earlier this year, after a prolonged struggle with regulators. Grayscale is also looking to convert an existing trust into an ETF.
Progress and Expectations
Executives at two firms involved in the discussions, who wished to remain anonymous, stated that the process of finalizing the offering documents is now addressing only minor issues. These documents need SEC approval before the ETFs can be launched. A lawyer working with one of the issuers indicated that the approval is likely just a week or two away.
Read More: https://onthenode.com/news/us-regulators-poised-to-approve-spot-ether-etfs-by-july-4
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