The US securities regulator has approved proposals from Nasdaq, Cboe, and NYSE to list ether
exchange-traded fund (ETF), marking a major regulatory win in the cryptocurrency
space. Recently, the US Securities and Exchange Commission (SEC) sent a positive signal regarding Ether exchange-traded funds (ETFs), sparking a surge
in Ether prices.
Optimism about the SEC’s approval of Ether ETF pushed the price of the second-largest cryptocurrency by 25% in the
past week. Earlier, a flurry of filings and rule change requests by the
regulator pointed towards a potential approval.
Recently, the SEC requested updates to filings from
the New York Stock Exchange and Cboe Global Markets, a move the crypto industry interpreted as
a sign of rising prospects of a possible approval, Bloomberg reported. Besides
that, Fidelity Investments updated its registration statement for a proposed ether ETF.
Notably, the asset management firm plans to avoid
staking and derivatives to address regulatory
concerns. Similar activities by the SEC preceded the approval of Bitcoin ETFs in
January, which became a record-breaking product launch.
Following the regulatory win, the expectation is that
Ether ETFs could follow a similar path, bringing a massive influx of capital
and potentially propelling Ether prices even higher. Elsewhere, Grayscale
Ethereum Trust aims to convert into an ETF.
Expect ongoing updates as this article evolves.
The US securities regulator has approved proposals from Nasdaq, Cboe, and NYSE to list ether
exchange-traded fund (ETF), marking a major regulatory win in the cryptocurrency
space. Recently, the US Securities and Exchange Commission (SEC) sent a positive signal regarding Ether exchange-traded funds (ETFs), sparking a surge
in Ether prices.
Optimism about the SEC’s approval of Ether ETF pushed the price of the second-largest cryptocurrency by 25% in the
past week. Earlier, a flurry of filings and rule change requests by the
regulator pointed towards a potential approval.
Recently, the SEC requested updates to filings from
the New York Stock Exchange and Cboe Global Markets, a move the crypto industry interpreted as
a sign of rising prospects of a possible approval, Bloomberg reported. Besides
that, Fidelity Investments updated its registration statement for a proposed ether ETF.
Notably, the asset management firm plans to avoid
staking and derivatives to address regulatory
concerns. Similar activities by the SEC preceded the approval of Bitcoin ETFs in
January, which became a record-breaking product launch.
Following the regulatory win, the expectation is that
Ether ETFs could follow a similar path, bringing a massive influx of capital
and potentially propelling Ether prices even higher. Elsewhere, Grayscale
Ethereum Trust aims to convert into an ETF.
Expect ongoing updates as this article evolves.
