US Regulator Approves Ethereum-ETF Spot Market

Yesterday, May 23, the U.S. Securities and Exchange Commission (SEC) officially approved spot Ethereum-ETFs, The Block reports.

The regulator approved Forms 19b-4 filed by issuers wishing to launch spot Ethereum-ETFs. These issuers include BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton

The full list of applications for registration of these exchange-traded funds was previously published by Bloomberg Intelligence analyst James Seyffarth.

He also noted that this statement does not mean that Ethereum-ETFs will start «trading tomorrow.»

«This is just a 19b-4 approval. You also need to approve the S-1 documents, which will take time. We expect it to take a few weeks, but it may take longer. We should know more within a week or so.»

The leading altcoin itself did not react positively to the event. According to the CoinMarketCap analytical tracker, at the time of writing, ethereum is trading at $ 3,680, a regression of more than 2.5%. The total number of coins circulating on the market is $ 442.5 billion. Traders made daily trading deals worth $ 47.3 billion. ETH’s market share amounted to 17.7%.