Ethereum Achieves Two More Victories: SEC Gives Green Light - Coin Bulletin

robot
Abstract generation in progress

The US Securities and Exchange Commission (SEC) has approved Grayscale's mini Ethereum (ETH) exchange-traded fund (ETF).

According to the decision announced by the SEC yesterday, ProShares' Ethereum ETF has also been approved.

The SEC unexpectedly approved applications made in May by a group of asset managers, including Grayscale, to establish a spot Ethereum ETF.

Grayscale first applied to convert the existing Grayscale Ethereum Trust into an ETF. Then it did the same for the mini fund. The seed capital for the mini fund is expected to come from Grayscale Ethereum Trust.

According to Bloomberg Intelligence analyst James Seyffart, this could potentially alleviate some of the money likely to exit Grayscale.

Seyffart thinks this fund is likely to enter the market next week along with other funds. Analysts expect these funds to be open for trading on July 23rd.

In the past years, the SEC rejected ETF applications for Bitcoin (BTC). However, a historic victory was achieved in last year's case for the cryptocurrency industry, and the judge ruled that the SEC's rejection of Bitcoin ETFs was not based on solid ground.

Following this decision, the first spot Bitcoin ETFs entered the market in January.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)