The US Securities and Exchange Commission (SEC) could approve ETFs linked to the spot price of Ether on July 4, Reuters has reported citing anonymous sources.
Multiple industry executives and participants have confirmed that talks between asset managers and regulators are in the final stages.
Eight well-known asset managers, including BlackRock, have applied for SEC approval for these funds.
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Most of these managers already launched Bitcoin ETFs in January. Grayscale hopes to convert its existing fund into an ETF.
According to two unnamed executives, the process of amending the offering documents is nearing completion and only minor issues remain to be resolved.
These documents must be approved before the ETFs can be launched.