From Nasdaq: 2024-06-26 17:32:24

The SEC is poised to approve exchange-traded funds tied to the spot price of ether by July 4, with eight asset managers seeking approval, including BlackRock and VanEck. Spot bitcoin ETFs launched in January were successful, drawing $38 billion in assets by late June, but analysts predict a more muted response for ether ETFs due to smaller market cap and trading volumes.

The approval process for ether ETFs is almost complete, with the launch expected within weeks if the SEC gives the green light. Analysts believe that the new ether ETFs may not achieve the same success as bitcoin ETFs, citing the smaller market size and recent price drop in ether. The SEC has already approved necessary rule changes for the NYSE, Nasdaq, and Cboe to list and oversee trading of these ETFs, highlighting the growing integration of digital assets into mainstream financial markets.

Read more at NASDAQ.: SEC Nears Approval of Spot Ether ETFs with July 4 Launch in Sight