Good news for Ethereum investors! The US Securities and Exchange Commission (SEC) approved a key hurdle for spot ether ETFs, bringing these investment vehicles a step closer to reality. However, investors will need to wait a bit longer before they can start buying them.
The SEC greenlit what are called “19b-4 forms” for several ether ETF proposals. This is a significant step, but it’s not the final one. The ETFs still need to pass another SEC review process through “S-1 filings” before they can officially launch for trading. Experts predict a waiting period of weeks or even months.
This approval comes as a surprise to many. The SEC had been quiet on the issue of ether ETFs after approving similar products for Bitcoin earlier this year. However, there was a recent shift, with the SEC requesting updates from issuers on their proposals.
Several major investment firms are behind the proposed ether ETFs, including BlackRock, Fidelity, and Grayscale.
While the initial approval is positive, it doesn’t guarantee all the proposed ETFs will be approved for trading. Each issuer’s S-1 filing will need individual SEC approval.
Industry experts are optimistic but cautious about the timeline. While some hope for a launch within weeks, past experiences suggest it could take months.
Stock exchanges are also eager to list these ETFs. Cboe Global Markets, for example, plans to list several different ether ETF products. They believe these ETFs will provide a safe and convenient way for investors to gain exposure to Ethereum.
VanEck, one of the issuers, is aiming to be the first to launch its ether ETF.
