In a landmark development for Ethereum (ETH) and the broader cryptocurrency market, the US Securities and Exchange Commission (SEC) has officially approved the long-awaited Ethereum ETFs applications submitted by the world’s largest asset managers.
All 8 Ethereum ETFs Approved
The SEC’s approval of the Ethereum ETFs is detailed in their official filing, which states that the proposals align with the provisions of the Exchange Act and relevant regulations governing national securities exchanges.
The Commission has determined that the proposals of BlackRock, Grayscale, Bitwise, VanEck, Ark Invest and 21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton satisfy the requirements of Section 6(b)(5) of the Exchange Act, which mandates the prevention of fraud and manipulation, the protection of investors, and the safeguarding of the public interest.
The Commission’s decision to approve the proposals prior to the 30-day notice period is supported by the amendment
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