{"id":10233,"date":"2024-07-16T05:13:29","date_gmt":"2024-07-16T05:13:29","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=10233"},"modified":"2024-07-16T05:13:31","modified_gmt":"2024-07-16T05:13:31","slug":"sec-grants-preliminary-approval-to-three-ether-etf-issuers","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/sec-grants-preliminary-approval-to-three-ether-etf-issuers\/","title":{"rendered":"SEC Grants Preliminary Approval to Three Ether ETF Issuers"},"content":{"rendered":"\n

The United States Securities and Exchange Commission (SEC) has reportedly given preliminary approval to three major asset managers for their spot Ether exchange-traded funds (ETFs). BlackRock, Franklin Templeton, and VanEck are among those set to receive this approval, according to sources cited by Reuters.<\/p>\n\n\n\n

Expected Launch and Conditions<\/h3>\n\n\n\n

The SEC’s final approval hinges on the submission of final offering documents by the applicants by the end of this week. The sources indicate that the ETFs could begin trading as early as next Tuesday, July 23.<\/p>\n\n\n\n

In addition to BlackRock, Franklin Templeton, and VanEck, other firms such as Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are also preparing to launch their Ether products. One source mentioned that all eight spot Ether ETFs are expected to launch simultaneously, mimicking the SEC’s handling of spot Bitcoin ETFs.<\/p>\n\n\n\n

SEC Instructions and Timeline<\/h3>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas reported that the SEC has instructed issuers to submit their final S-1 filings, including the attached fees, by July 16. The SEC is anticipated to officially approve the S-1 filings after trading hours close next Monday, paving the way for the ETFs to start trading the following day.<\/p>\n\n\n\n

Also Read: Analysts Predict Spot Ether ETF Launch by July 2nd<\/a><\/p>\n\n\n\n

Gary Gensler\u2019s commission initially provided feedback on the S-1 filings in late June, approximately five weeks after approving the 19b-4 filings on May 23. This aligns with comments from Katherine Dowling, Bitwise\u2019s chief compliance officer, who noted a reduction in back-and-forth issues between issuers and the SEC.<\/p>\n\n\n\n

Market Impact and Projections<\/h3>\n\n\n\n

Bitwise\u2019s chief investment officer, Matt Hougan, predicts that the spot Ether ETFs could attract up to $15 billion in inflows within the first 18 months of trading, mirroring the inflows seen by spot Bitcoin ETFs since their launch six months ago.<\/p>\n\n\n\n

If approved, these Ether ETFs will be listed on major exchanges, including the Nasdaq, New York Stock Exchange, and the Chicago Board Options Exchange.<\/p>\n\n\n\n

Currently, Ether is trading at $3,484, reflecting a 6.7% increase over the past 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"

The United States Securities and Exchange Commission (SEC) has reportedly given preliminary approval to three major asset managers for their spot Ether exchange-traded funds (ETFs). BlackRock, Franklin Templeton, and VanEck are among those set to receive this approval, according to sources cited by Reuters. Expected Launch and Conditions The SEC’s final approval hinges on the […]<\/p>\n","protected":false},"author":6,"featured_media":6208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[258,43],"tags":[],"class_list":{"0":"post-10233","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum","8":"category-general-news"},"acf":[],"yoast_head":"\nSEC Grants Preliminary Approval to Three Ether ETF Issuers<\/title>\n<meta name=\"description\" content=\"The United States Securities and Exchange Commission (SEC) has reportedly given preliminary approval to three major asset managers for their spot Ether\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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