News

Ethereum ETF Registration Statements Are Now Attracting Industry Attention

May 29, 2024 - Around 2 mins mins to read

Key Points:

  • US regulators have indicated potential approval for Ether ETFs, a major step for cryptocurrency.
  • Ethereum ETF registration statement approval is needed, and it is expected within weeks to three months, though the timing is uncertain.
In a surprising turn, US regulators have signaled potential approval for exchange-traded funds (ETFs) that invest directly in Ether, the second-largest cryptocurrency by market capitalization.
Ethereum ETF Registration Statements Are Now Attracting Industry Attention
Ethereum ETF Registration Statements Are Now Attracting Industry Attention 2

Final SEC Decision Awaited on Ethereum ETF Registration Statements

Although not yet fully approved, the recent regulatory green light marks a significant milestone. Issuers still require a separate nod from the Securities and Exchange Commission (SEC) on Ethereum ETF registration statements before launching these products. The timeline for this final approval remains uncertain, hinging on how long the SEC decides to delay the process, as reported by Bloomberg.

Nate Geraci, president of The ETF Store, anticipates approval within the next few weeks or, at most, two to three months.

“Nobody knows for sure, but my expectation would be next few weeks. 2-3 months max. IMO, heavy lifting already done following spot btc ETFs & eth futures ETFs. Just a matter of how long SEC wants to string this out,” Geraci stated.

Market Anticipates Success of Upcoming Ether ETFs

Ether’s potential ETF status is viewed as a trailblazer for other altcoins, such as Solana and XRP. Unlike Bitcoin, which enjoys a unique status due to its size and history, Ether and other digital assets face more regulatory scrutiny. SEC Chair Gary Gensler has previously classified many digital assets as unregistered securities, although he has not explicitly included Ether in this category. Bitcoin, on the other hand, has been definitively excluded from this classification.

Gensler, who once taught digital asset courses at MIT, has a contentious relationship with cryptocurrencies. Following the SEC’s approval of spot Bitcoin ETFs in January, Gensler maintained that the agency does not endorse digital assets, which drew criticism from figures like Cathie Wood of Ark Investment. The current approval process for Ethereum ETF registration statements has not elicited a similar response from Gensler.

As the crypto industry awaits the SEC’s final decision, former SEC Chairman Jay Clayton predicts spot Ethereum ETF trading could commence as early as July or August.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ethereum

Ethereum ETF Registration Statements

Gary Gensler

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Spot Ethereum ETF

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Ethereum ETF Registration Statements Are Now Attracting Industry Attention

Key Points:

  • US regulators have indicated potential approval for Ether ETFs, a major step for cryptocurrency.
  • Ethereum ETF registration statement approval is needed, and it is expected within weeks to three months, though the timing is uncertain.
In a surprising turn, US regulators have signaled potential approval for exchange-traded funds (ETFs) that invest directly in Ether, the second-largest cryptocurrency by market capitalization.
Ethereum ETF Registration Statements Are Now Attracting Industry Attention
Ethereum ETF Registration Statements Are Now Attracting Industry Attention 4

Final SEC Decision Awaited on Ethereum ETF Registration Statements

Although not yet fully approved, the recent regulatory green light marks a significant milestone. Issuers still require a separate nod from the Securities and Exchange Commission (SEC) on Ethereum ETF registration statements before launching these products. The timeline for this final approval remains uncertain, hinging on how long the SEC decides to delay the process, as reported by Bloomberg.

Nate Geraci, president of The ETF Store, anticipates approval within the next few weeks or, at most, two to three months.

“Nobody knows for sure, but my expectation would be next few weeks. 2-3 months max. IMO, heavy lifting already done following spot btc ETFs & eth futures ETFs. Just a matter of how long SEC wants to string this out,” Geraci stated.

Market Anticipates Success of Upcoming Ether ETFs

Ether’s potential ETF status is viewed as a trailblazer for other altcoins, such as Solana and XRP. Unlike Bitcoin, which enjoys a unique status due to its size and history, Ether and other digital assets face more regulatory scrutiny. SEC Chair Gary Gensler has previously classified many digital assets as unregistered securities, although he has not explicitly included Ether in this category. Bitcoin, on the other hand, has been definitively excluded from this classification.

Gensler, who once taught digital asset courses at MIT, has a contentious relationship with cryptocurrencies. Following the SEC’s approval of spot Bitcoin ETFs in January, Gensler maintained that the agency does not endorse digital assets, which drew criticism from figures like Cathie Wood of Ark Investment. The current approval process for Ethereum ETF registration statements has not elicited a similar response from Gensler.

As the crypto industry awaits the SEC’s final decision, former SEC Chairman Jay Clayton predicts spot Ethereum ETF trading could commence as early as July or August.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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