Ether ETFs Clear Major Hurdle, Though SEC Hasn't Cleared Them for Trading Yet
Spot ether (ETH) exchange-traded funds took a giant leap toward reality on Thursday after the U.S. Securities and Exchange Commission approved key regulatory filings tied to them, a milestone for the second-largest cryptocurrency. They are not yet cleared to trade, though. The SEC gave its blessing to so-called 19b-4 forms tied to the ETFs, but the regulator must approve their S-1 filings before investors can buy them. The approval follows a stunning turnaround by the markets regulator. After clearing spot bitcoin ETFs earlier this year, the SEC didnt seem to engage much with issuers on ether ETFs. That changed in recent days. “A week ago, I wouldve said you were a little crazy to think that these ETFs were going to get SEC approval,” James Seyffart, ETF analyst at Bloomberg Intelligence, said in an interview ahead of the decision. In a statement, a Grayscale spokesperson confirmed the regulator had approved its 19b-4. “At Grayscale, we appreciate the opportunity to engage constructively with regulators as they review spot Ethereum ETFs, and we remain optimistic about the potential of bringing Ethereum further into the US regulatory perimeter in the ETF wrapper,” they said. Would-be spot ether ETF issuers include BlackRock, Fidelity, Grayscale, VanEck, Franklin Templeton, Ark/21Shares and Invesco/Galaxy. Although
