SEC officials said today they are leaning toward approving exchanges on which Ethereum Spot ETF products will be listed, Barrons reported and people familiar with the matter said.
The agency made comments on the applications that, if resolved in a timely manner, could result in approvals as soon as this week.
The U.S. Securities and Exchange Commission (SEC) has indicated that it is leaning toward approving spot Ethereum ETFs, according to sources familiar with the matter cited by Barrons. SEC officials informed the stock exchanges where the products will be listed about these trends yesterday.
The agency has provided feedback on the applications and could seek approvals as early as this week if any issues raised are resolved in a timely manner.
Notably, the SEC provides feedback to most issuers, even those with response deadlines later in the year. This may indicate that the SEC intends to coordinate the launch of several ETH ETFs at the same time.
Approval of ETFs could open the ETH market to institutional investors, such as foundations and pension funds, who are currently unable or unwilling to invest directly in cryptocurrencies. It could also lead to increased interest in smaller cryptocurrencies like Solana and Avalanche as investors consider other tokens increasingly likely to eventually receive approval for inclusion in funds.
However, even if the SEC approves the initial 19b-4 filings this week, it does not mean that ETH ETFs will launch at the same time. The agency has yet to provide feedback to some issuers on their S-1 filings, another critical part of the launch of ETFs.
*This is not investment advice.
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