SEC Approves First Eight Spot Ether ETFs

The Securities and Exchange Commission (SEC) has approved the first eight proposals for spot ether exchange-traded funds (ETFs). According to a document issued on May 23 that orders grating an accelerated approval for these products, NYSE Arca obtained permission to list the Grayscale Ethereum Trust and the Bitwise Ethereum ETF, Nasdaq can now list the Ishares Ethereum Trust, and BZX can list the Vaneck Ethereum Trust, the ARK 21Shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund, and the Franklin Ethereum ETF. The SEC explained that “the proposals are consistent with the
Exchange Act and rules and regulations thereunder applicable to a national securities exchange.”