The US securities regulator has approved proposals from Nasdaq, Cboe, and NYSE to list ether exchange-traded fund (ETF), marking a major regulatory win in the cryptocurrency space. Recently, the US Securities and Exchange Commission (SEC) sent a positive signal regarding Ether exchange-traded funds (ETFs), sparking a surge in Ether prices.

Optimism about the SEC's approval of Ether ETF pushed the price of the second-largest cryptocurrency by 25% in the past week. Earlier, a flurry of filings and rule change requests by the regulator pointed towards a potential approval.

Ether Price Surges

Recently, the SEC requested updates to filings from the New York Stock Exchange and Cboe Global Markets, a move the crypto industry interpreted as a sign of rising prospects of a possible approval, Bloomberg reported. Besides that, Fidelity Investments updated its registration statement for a proposed ether ETF.

Notably, the asset management firm plans to avoid staking and derivatives to address regulatory concerns. Similar activities by the SEC preceded the approval of Bitcoin ETFs in January, which became a record-breaking product launch.

Following the regulatory win, the expectation is that Ether ETFs could follow a similar path, bringing a massive influx of capital and potentially propelling Ether prices even higher. Elsewhere, Grayscale Ethereum Trust aims to convert into an ETF.

Expect ongoing updates as this article evolves.