The SEC has approved the filing documents related to the establishment of Ethereum (ETH) price-based ETF funds. Approved funds include BlackRock, Fidelity, Grayscale, VanEck, Franklin Templeton, Ark/21Shares, Invesco/Galaxy, and Bitwise. However, the SEC has only approved the 19b-4 documents for fund establishment, not the S-1 documents for investors to trade in the market. This signals that ETH may soon be traded in ETF form.
Some fund managers who applied for ETF establishment have expressed surprise at the quick SEC approval. They expected the process to take months, especially for ETFs referencing Bitcoin assets back in January. ETH trading prices continue to rise, currently at around $3,800 per ETH.
Source: CoinDesk
TLDR: The SEC has approved Ethereum-based ETF funds, signaling potential ETH trading in ETF form soon. Fund managers are surprised at the quick approval process, as ETH prices continue to increase.
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