• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Blockchain Market
    Blockchain News
    Blockchain Stocks
    • Blockchain Market
    • Blockchain News
    • Blockchain Stocks
    1. Home>
    2. Technology Investing NewsBlockchain Investing>
    Loading...
    0

    SEC Approves 8 Spot Ethereum ETFs in Landmark Decision

    Meagen Seatter
    May. 23, 2024 01:30PM PST

    In a landmark, sweeping decision, the SEC has given the go-ahead to eight proposed Ether ETFs.

    Words saying "Ethereum ETF" and logo in silver on top of gold binary numbers and black background.
    Sashkin / Shutterstock

    The US Securities and Exchange Commission (SEC) announced on May 23 that it approved the launch of eight spot Ether ETFs on an accelerated basis, marking another major milestone in the cryptocurrency industry.

    While the deadline for the decision only applied to the VanEck Ethereum Trust, the SEC also approved the Grayscale Ethereum Trust, the Bitwise Ethereum ETF, the iShares Ethereum Trust, the ARK 21Shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund and the Franklin Ethereum ETF.

    The ETFs are expected to generate Ether inflows upward of US$15 billion in the first 12 months. The news has already led to a surge in the price of Ether, which was around the US$3,850 mark at 6:00 p.m. EDT.


    This move comes one day after the US House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, the first major crypto bill to make it out of Congress. It also follows a similar decision made by the SEC in January to approve spot Bitcoin ETFs, sparking a rally in the crypto markets.

    Due to the potential for Ethereum’s underlying crypto asset to be classified as a security, the approval process has been wrought with delays, with the SEC’s movements being closely watched by investors and analysts as speculation mounted in the weeks leading up to the May 23 deadline for VanEck’s proposed spot Ether ETF. In fact, in recent weeks, worry had set in that the approvals were unlikely to come.

    However, on May 20, the SEC requested exchanges to update their 19b-4 filings on an accelerated basis, signaling a potentially positive outcome for the ETF applications. As anticipation grew, Bloomberg ETF analysts Eric Balchunas and James Seyffart increased their odds of VanEck’s 19b-4 form being approved from 25 percent to 75 percent.

    According to multiple outlets, issuers updated their filings to confirm they will not stake ETH for yield to address SEC concerns surrounding the complexities of cryptocurrency staking, including market risks, custody and control, and potential conflicts of interest.

    This landmark decision by the SEC demonstrates the increasing acceptance of cryptocurrencies as viable investment vehicles and paves the way for further innovation in the digital asset space. Seyffart pointed out that the approvals do not necessarily mean immediate launches of Ether ETFs, emphasizing that there will likely be a waiting period between approval and actual availability to investors.

    Investors and market participants will be closely monitoring the ongoing developments as the Ether ETFs prepare for their highly anticipated launch.

    Don’t forget to follow us @INN_Technology for real-time news updates!

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    From Your Site Articles
    • What are Spot Ethereum ETFs and Will They be Approved? ›
    • When Will the ASX Approve Spot Bitcoin ETFs? ›
    • Crypto Market Update: Q1 2024 in Review ›
    • Top 10 Cryptocurrencies in 2024 ›
    • 11 Canadian Cryptocurrency ETFs (Updated 2024) ›
    Related Articles Around the Web
    • Ethereum ETF Tracker - Blockworks ›
    • Ether ETFs: Why Approval Speculation Is Boosting Crypto Prices ... ›
    https://twitter.com/INN_Technology
    https://www.linkedin.com/in/meagen-seatter-23675b193/
    mseatter@investingnews.com
    The Conversation (0)

    Go Deeper

    AI Powered
    Canada flag and various crypto coins, including Bitcoin and Ether.

    13 Canadian Crypto ETFs in 2025

    Red downward graph arrow indicating declining financial data.

    Crypto Market Update: Bitcoin ETFs Shed US$1.46 Billion Amid Stagflation Jitters

    Meagen Seatter

    Meagen Seatter

    Investment Market Content Specialist

    Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.

    Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.

    Latest News

    Torrent Capital Announces Appointment of New CFO

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Blockchain Investing Stocks

    Torrent Capital

    TORR:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×
    Meagen Seatter
    Meagen Seatter

    Investment Market Content Specialist

    Meagen moved to Vancouver in 2019 after splitting her time between Australia and Southeast Asia for three years. She worked simultaneously as a freelancer and childcare provider before landing her role as an Investment Market Content Specialist at the Investing News Network.

    Meagen has studied marketing, developmental and cognitive psychology and anthropology, and honed her craft of writing at Langara College. She is currently pursuing a degree in psychology and linguistics. Meagen loves writing about the life science, cannabis, tech and psychedelics markets. In her free time, she enjoys gardening, cooking, traveling, doing anything outdoors and reading.

    Full Bio

    Follow

    Learn about our editorial policies.