SEC Approves BlackRock, Franklin Templeton, and VanEck
Washington, DC, Tuesday, July 16, 2024-The United States Securities and Exchange Commission (SEC) has reportedly given “preliminary approval” to at least three asset managers for their spot Ether exchange-traded funds (ETFs), reports citing a Reuters news report said July 15.
One Bloomberg report said the SEC could approve these filings next Monday, allowing the ETFs to begin trading on Tuesday, July 23.
BlackRock, Franklin Templeton, and VanEck are among the firms that received this preliminary approval.
The SEC’s final approval is contingent on the submission of final offering documents by the end of this week. Other firms, including Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy, are also expected to launch their Ether products next week.
One source indicated that all eight spot Ether ETFs are likely to launch simultaneously, similar to the rollout of spot Bitcoin ETFs.
It is understood that the SEC has provided final instructions to asset managers preparing to launch Ether ETFs, including the requirement to submit final S-1 filings by July 16.
There are fewer issues between the issuers and the SEC, which could be indicating the launch is imminent.
Bitwise speculates that spot Ether ETFs could attract up to $15 billion in inflows in the first 18 months, similar to the performance of spot Bitcoin ETFs.
If approved, the spot Ether ETFs will be listed on the Nasdaq, New York Stock Exchange, and the Chicago Board Options Exchange.
