The US Securities and Exchange Commission (SEC) is the world’s second largest cryptocurrency Ethereum The deadline to approve or reject applications for the first ETFs to include The end of May deadline is fast approaching and the organization is almost running out of time.
The SEC will make a final decision on May 23 on a filing by VanEck seeking changes that would allow it to launch an ETF holding Ether. VanEck is among several companies, including Invesco, BlackRock and Fidelity, vying to launch similar funds.
If the SEC were sympathetic to ETFs, it would likely aim to approve multiple applications at once to avoid appearing to favor one applicant over others. This approach was adopted by the SEC in January 10 Bitcoin It reflects his actions when he approved his ETF. These funds have proven to be highly successful, raising a net $33 billion and driving Bitcoin prices to record levels.
However, the road may not be so smooth for Ethereum. While some ETF applicant companies have been in discussions with the SEC about their products, these discussions have been largely one-sided. The agency has yet to provide the critical feedback companies need to finalize their products, according to a source familiar with the matter. At this stage of the Bitcoin ETF process, issuers were already in active dialogue with institution staff.
However, if the SEC does not make a decision on this group of Ethereum ETFs soon, the launch of the first ones could be in 2025 or later.
*This is not investment advice.
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