The US Securities and Exchange Commission (SEC) has approved eight spot Ethereum ETFs.
The exchange-traded funds that have received approval from the regulator include BlackRock, Grayscale Fidelity, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton.
It should be noted that although the 19b-4 forms have been approved by the regulator, issuers must still wait for their S-1 registration statements to become effective before trading can begin.
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The SEC has recently initiated discussions with issuers about their S-1 forms, but it is unclear how long this process will take.
The decision to approve these ETFs has come as a surprise to many, as prior to this week there had been hardly any contact between the SEC and issuers.
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However, the SEC began abruptly requesting 19b-4 forms from issuers, signaling a change in its stance.