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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

BREAKING: SEC Primed To Approve Ethereum ETFs This Week, Report Claims

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In a significant departure from their previous skeptical stance, US regulators are reportedly leaning toward approving the long-awaited spot Ethereum ETFs for the second-largest cryptocurrency by market capitalization. 

SEC Staff Signals Spot Ethereum ETFs Approval

According to a report by Barron’s, the US Securities and Exchange Commission (SEC) staff communicated to exchanges on Monday that they are leaning towards approving these products. 

The agency has provided comments and guidance on the ETF applications, and if the “outstanding issues” are resolved in time, approvals could be granted as early as this week.

Furthermore, the SEC’s recent engagement with exchanges further underscores the regulator’s consideration of spot Ethereum ETFs. The commission reportedly contacted the Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to request updates and modifications to existing applications before an upcoming regulatory deadline.

Of particular interest is VanEck’s spot Ether ETF, which has been pending SEC approval for the past 240 days. The commission is required to decide whether to approve or deny VanEck’s ETF by May 23. 

Shifting Landscape

The introduction of Ethereum spot ETFs would offer investors a more traditional and regulated route to gain exposure to the cryptocurrency without the complexities associated with directly trading digital assets on cryptocurrency exchanges.

Suppose the SEC gives the green light to Ethereum spot ETFs. In that case, it will mark a significant milestone in the maturation and acceptance of Ethereum and the entire cryptocurrency market, as currently seen with the recently approved spot Bitcoin ETF market in both Hong Kong and the US.

The regulatory approval of such spot Ethereum ETFs products will increase transparency, improve market liquidity and potentially attract institutional investors waiting for a regulated framework to participate in the growing digital asset space.

While the final decision rests with the SEC, the agency’s positive disposition towards Ethereum ETFs indicates a shifting regulatory landscape, recognizing the potential benefits and demand for such investment vehicles.

Ethereum ETFs

At the time of writing, ETH is trading at $3,730, up nearly 20% in the past 24 hours, reaching a high of $3,840 on Tuesday’s trading session.

Featured image from Shutterstock, chart from TradingView.com 

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