SEC Greenlights Regulatory Filings for Multiple Spot Ether ETFs
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In a pivotal development for the cryptocurrency industry, the United States Securities and Exchange Commission (SEC) has authorized critical 19b-4 filings for spot Ether ETFs.
This approval allows several major exchanges to list these ETFs, signalling the SEC’s increased willingness to integrate cryptocurrency-based products into mainstream financial markets.
Notably, exchanges such as NYSE Arca, Nasdaq, and BZX have received the green light to list high-profile funds,, including the Grayscale Ethereum Trust and the Bitwise Ethereum ETF.
The Path to Spot Ether ETFs
This approval marks a significant departure from the SEC’s historically cautious stance on cryptocurrency ETFs. The 19b-4 filings signify a readiness to allow issuers to market spot ETFs, although final approval for the S-1 registration statements is still pending.
While these filings pave the way for eventual trading, it does not guarantee immediate availability, as issuers must still secure SEC clearance for their S-1 forms.
Matthew Sigel, head of digital assets research at Vaneck, expressed optimism, stating his firm aims to be the first to debut its ETF.
Implications and Market Reactions
The SEC’s approval has positively influenced the market, with the Grayscale Ethereum Trust’s discount to its net asset value (NAV) notably reducing from -20.52% to 5.59% since May 17. As the market absorbs this news, anticipation builds around the further integration of Ethereum into the U.S. regulatory framework.
A spokesperson from Grayscale highlighted their constructive engagement with regulators and optimism about Ethereum’s future within the regulated U.S. market.
Analysts expect the discount to NAV to continue decreasing, potentially reaching parity as these products approach trading readiness.
