SEC takes action on spot ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has approved all companies that have applied for spot ethereum exchange-traded funds (ETFs). The U.S. Securities and Exchange Commission has approved all companies that have applied for Ether ETFs to trade. The SEC has approved rule changes supporting ETFs that invest in Ethereum, the native cryptocurrency of the Ethereum blockchain, for several groups, including BlackRock, Fidelity, Invesco, and Ark Invest. A second round of approvals will be needed before the products can be launched. Bloomberg ETF Analyst James Seyffart said, “This decision does not mean that trading will start tomorrow. This is just a 19b-4 approval. The S-1 documents also need to be approved, and that will take time. It could take a few weeks or longer.” The SEC had also approved spot Bitcoin ETFs in January. Total net inflows into spot Bitcoin ETFs exceeded $12 billion.