US Approves Spot Ether ETFs: What Investors Need to Know

US Approves Spot Ether ETFs: Regulatory Hurdle Cleared, But Launch Still Weeks Away

The US Securities and Exchange Commission (SEC) has given the go-ahead for spot Ether exchange-traded funds (ETFs) to operate in the country. This marks a significant development for the cryptocurrency industry, following the approval of spot Bitcoin ETFs earlier this year.

Key Differences in the Approval Process:

Unlike Bitcoin ETFs, which received approval through a commission vote, Ether ETFs were greenlit by the SEC’s Trading and Markets Division.

Another key distinction is the launch timeline. While Bitcoin ETFs began trading immediately after approval, spot Ether ETFs still require S-1 registration with the SEC, potentially delaying their debut by weeks or even months.

Other Crypto News:

Worldcoin Faces Regulatory Hurdle in Hong Kong: Hong Kong authorities have ordered Worldcoin to halt operations due to privacy concerns related to iris and facial image scanning practices.

Binance.US Wins Appeal in Florida Money Services License Case: A Florida court has overturned the suspension of Binance.US’s money services license, citing a lack of proper justification by the state.

US House Passes CBDC Anti-Surveillance State Act: The US House of Representatives has approved a bill aimed at restricting the development and use of a central bank digital currency (CBDC) within the US.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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