The U.S. Securities and Exchange Commission (SEC) has approved all spot Ethereum ETF applications.
In a landmark decision on May 23rd, the U.S. SEC has approved several applications for spot Ethereum ETFs.
Ethereum experienced a significant 18% price spike on May 21st amid fresh speculation that spot Ether ETF applications could get the regulatory green light by the May 23rd deadline. Bloomberg ETF analysts Eric Balchunas and James Seyffart raised the approval odds from 25% to 75% after noting increased "chatter" that the SEC was urging applicants to expedite their 19b-4 filings.
On May 21st, within a 25-minute window, the Chicago Board Options Exchange (CBOE) submitted amendments to their 19b-4 filings for five potential Ethereum ETF issuers - Fidelity, VanEck, Franklin Templeton, Galaxy/Invesco, and ARK/21Shares. Reuters reported that regulators had asked Nasdaq, CBOE and NYSE to revise their spot ETF applications, signaling approvals.
The amended filings from Fidelity, Franklin Templeton, Invesco Galaxy, BlackRock, Bitwise, VanEck and ARK 21Shares all removed provisions related to Ethereum staking. This indicates the approved ETFs will hold Ethereum directly without engaging in proof-of-stake validation or generating new ether.
The launch of spot Ethereum ETFs is expected to drive significant investor demand and liquidity into the ether market. It opens the door for both retail and institutional investors to gain exposure to Ethereum's price performance through a regulated, exchange-traded product.
