The U.S. Securities and Exchange Commission (SEC) is set to approve at least three Ethereum (ETH) exchange-traded funds (ETFs) for trading next week, as reported by multiple sources.
According to a report by Reuters, the SEC has given initial approval to ETH ETF applications from BlackRock, VanEck, and Franklin Templeton, with trading expected to commence on Tuesday.
Additional documentation needs to be submitted by the financial firms this week to receive final approval, with all eight Ethereum ETF applications anticipated to launch next week.
Eric Balchunas, a senior ETF analyst for Bloomberg, also mentioned on Twitter that the ETFs are likely to start trading next Tuesday.
“Hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (including fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last-minute issues of course!”
Earlier this year, the SEC approved the first spot market Bitcoin (BTC) ETFs, attracting significant investment into the leading cryptocurrency. Recently, several firms have also applied to launch ETFs based on Solana (SOL), a competitor to Ethereum.
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