- SEC approves potential launch of eight Ethereum ETFs, following Bitcoin ETF approval.
- Approval involves crucial rule changes, paving the way for ETFs directly linked to ether.
- Decision triggers surge in ether’s price and reflects growing confidence in cryptocurrency.
In a significant move, the US Securities and Exchange Commission (SEC) has indicated its approval for the potential launch of eight exchange-traded funds (ETFs) linked to ether, the second-largest cryptocurrency in the world. This decision comes after the SEC’s earlier approval of the first bitcoin ETFs, marking a notable shift in the regulatory landscape for digital assets.
The SEC’s approval involves crucial rule changes that pave the way for ETFs directly investing in ether, the native cryptocurrency of the Ethereum blockchain. Applications from major financial groups such as BlackRock, Fidelity, Invesco, and Ark Invest have received the green light, although a second round of approvals will be required before these products can officially launch.
The anticipation surrounding these approvals has led to a surge in ether’s price, climbing over 20% since Monday and more than 60% since the beginning of the year. This reflects the increasing confidence among investors in the mainstream acceptance of cryptocurrencies. While the SEC’s decision marks a significant milestone, the timing of the second round of approvals and the subsequent launch of ether ETFs remains uncertain.
