…Spot Ethereum ETFs to Start Trading on Tuesday, Final Approval Given by US SEC
The SEC approved the spot ETH ETF after a rare deviation from its tendency pulled the unexpected regulatory turn in May. Over the last 2 weeks, fund providers have been updating and finalizing their forms for submission. The spot Ethereum ETFs became effective by the SEC with the 424(b) approvals being delivered earlier.
Trading was pinpointed to begin on July 23. Sources stated that they have been informed by regulators to expect the approvals no later than then unless there were unanticipated impediments.
Bloomberg Senior ETF Analyst Eric Balchunas tweeted Monday afternoon that the SEC has made spot ETH ETFs effective. 444(b) forms are pouring in… final step = everything’s a go for 9:30am launch tomorrow. Game on.”
Leading names in assets management space are to release US spot Ethereum ETFs, amongst which BlackRock along with other companies such as Fidelity and Franklin Templeton or the banking regulator Grayscale.
United States – The approval of spot Ethereum ETFs at home comes just six months after the United States saw its first trading in puissance Bitcoin (BTC) -based services traded on a pro rata basis. Some of the same major names in backing funds for Bitcoin are also doing so with Ethereum now. Since launching, Bitcoin ETFs have been seeing total inflows of over $17 billion.
The price of Ethereum slipped a bit Monday afternoon after the SEC gave its final approval to begin trading in an ETF on behalf of ETH. At the time of writing, ETH has 24-hour losses just short of -0.6% as it struggles at $3,470 per token (and continues to dip back towards that level). Wintermute has projected “less demand than expected” amidst the excitement.
