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SEC notifies exchanges of potential approval of Ethereum ETF, Barrons reports
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SEC notifies exchanges of potential approval of Ethereum ETF, Barrons reports

May 22, 2024

The US Securities and Exchange Commission (SEC) has notified exchanges of the likely approval of spot ETFs on Ethereum. Barrons reports this, citing its sources. This article explains which ETF applications are worth monitoring.

The SEC could make a decision on Ethereum spot ETFs as early as this week. According to Barrons and its sources, the decision is expected to be positive. The regulator has notified stock exchanges of possible approval of these instruments.

A mass alert indicates the possibility of multiple ETFs being launched at the same time. This will allow institutional investors such as wealth managers and pension funds to gain access to ether.

It is also important to monitor what forms of ETF applications the Commission will approve. Forms 19b-4 may be approved this week, but that does not mean the tools will be released immediately. After this, Form S-1 approval may be required before companies can launch an ETH ETF

At the time of writing, Ethereum (ETH) is trading at over $3,700. The cryptocurrency is up 1% in the last 24 hours and 28% in the last 7 days, according to CoinMarketCap. In the cryptocurrency top 10, Solana (SOL) ranks second in weekly growth with 25%. Bitcoin (BTC), whose community is celebrating Bitcoin Pizza Day today, lost 1% in a day, but grew by 12% in a week. At the time of publication, the cost of 1 BTC is $70,000.

Several important events for the industry took place on May 21. Bitcoin rose above $70,000 and approached $71,000, observers made optimistic predictions about the approval of the ETH ETF, and the head of the US Federal Deposit Insurance Corporation, who opposed cryptocurrencies, agreed to leave his post. At the same time, Democrats are reportedly opposed to the Financial Innovation and Technology for the 21st Century (FIT21) Act, which is supported by the crypto industry

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