The U.S. Securities and Exchange Commission (SEC) is primed to greenlight at least three Ethereum (ETH) exchange-traded funds (ETFs) for trading next week, according to multiple reports.
A Reuters report, citing three “industry sources,” indicates the regulator has provided preliminary approval to ETH ETF applications from asset management giants BlackRock, VanEck and Franklin Templeton.
The sources say the firms’ products will likely receive approval on Monday and begin trading on Tuesday.
The financial firms will need to submit follow-up documents to the SEC this week to receive final approval, according to the sources. One of the sources reportedly tells Reuters that all eight Ethereum ETH applications are expected to launch next week, not just the three from BlackRock, VanEck and Franklin Templeton.
Eric Balchunas, a senior ETF analyst for Bloomberg, also says that ETFs are likely to begin trading next Tuesday.
“Hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (including fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last-minute issues of course!”
The SEC greenlit the first spot market Bitcoin (BTC) ETFs in January, bringing in billions of dollars worth of inflows to the top crypto asset by market cap. Earlier this month, multiple firms also filed applications to launch ETFs based on the Ethereum rival Solana (SOL).
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
