“Major Asset Managers on Brink of SEC Approval for Spot Ether ETFs”

Reports indicate that asset managers BlackRock, Franklin Templeton, and VanEck have received preliminary approval for their spot Ether exchange-traded funds (ETFs) from the US Securities and Exchange Commission (SEC). The SEC approval is said to be contingent on the applicants submitting final offering documents to the regulator by the end of this week. Other contenders like Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are also aiming to launch their Ether products next week. The potential approval of these ETFs has fueled speculation that trading could begin as early as next Tuesday.

Industry sources revealed that all eight spot Ether ETFs are expected to launch simultaneously, following final instructions from the SEC to submit amended S-1 filings by July 16. Analysts expect the SEC to officially approve the S-1s next Monday, after trading hours close, which could pave the way for the spot Ether ETFs to start trading on Tuesday, July 23. If approved, these ETFs will be listed on major exchanges like Nasdaq, New York Stock Exchange, and the Chicago Board Options Exchange.

Bitwise’s chief investment officer, Matt Hougan, predicts that the spot Ether ETFs could potentially attract up to $15 billion in inflows within the first 18 months of trading. This development comes amid positive sentiments around the potential launch of spot Ether ETFs, indicating a growing interest in crypto investments. Ether’s current trading price stands at $3,484, reflecting a 6.7% increase over the last 24 hours.