The Securities and Exchange Commission (SEC) is gearing up for discussions and decision-making regarding Spot Ethereum Exchange-Traded Funds (ETFs) this March. After the significant approval of Spot Bitcoin ETFs in January and their sustained growth, the potential introduction of Spot ETH ETFs is eagerly anticipated for further incorporation of cryptocurrency into stock trading platforms.
The Securities and Exchange Commission (SEC) is set to hold meetings with potential Ethereum exchange-traded fund (ETF) applicants in the upcoming month, as per Reuters reports. Bitcoin ETFs were approved on January 11, 2024, but the SEC has continuously postponed decisions regarding Ethereum ETFs.
Additionally, SEC Chair Gary Gensler previously clarified that the SEC’s approval of Bitcoin products did not indicate support for Bitcoin or other cryptocurrencies, but rather was driven by trade benefits and external pressures.
Also Read: Ethereum (ETH): Turn $100 Investments into $7.8 Million in March 2024
The upcoming SEC meetings are set to kick off discussions regarding the potential advantages and drawbacks of introducing an Ethereum ETF to the market. These meetings are expected to involve several prospective applicants, including Grayscale, VanEck, and various asset managers who are actively seeking to include an Ethereum ETF in their offerings.
The SEC has decided to delay making decisions on spot Ether-based products until at least May. Despite this postponement, they are planning to engage in further discussions regarding the products and commence meetings with issuers starting in March.
Meanwhile, the Ethereum (ETH) Coin has been experiencing a bullish rally over the past 2 weeks. The ETH Coin is up by nearly 52% in the last 30 days and is currently trading at around $3,474.47, showing a 5% increase in value over the last 24 hours.
