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BREAKING: SEC Approves Ethereum Spot ETFs

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Ethereum ETFs are predicted to draw institutional capital worth billions of dollars.đź‘€

Phoenix News reports that the US Securities and Exchange Commission has authorized the accelerated launch of spot Ethereum ETFs.

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The SEC requires S-1 registration statements in order for ETFs to list securities, and Ethereum ETFs must complete these forms over the course of several weeks in order to establish exchange agreements and communicate with the SEC.

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According to Standard Chartered Head of Digital Assets Research Geoff Kendrick, the move is anticipated to result in a significant inflow of institutional capital into the Ethereum market, with inflows estimated to reach $15 to $45 billion within the first year.

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Potential spot Ethereum ETF issuers, such as Fidelity, Franklin Templeton, Ark, Invesco, Grayscale, Bitwise, and VanEck, have updated their filings to clarify that they will not stake Ethereum for yield in response to SEC concerns.

The likelihood of a spot Ethereum ETF being approved this month has increased from 25% to 75%, according to estimates made earlier this week by Bloomberg analysts Eric Balchunas and James Seyffart.

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After former President Trump promised to support the industry and create a business-friendly environment in the US, the Biden Administration appears to be changing its position on cryptocurrency, as evidenced by the approval of Ethereum ETFs and the passing of the FIT21 crypto bill.

The approval represents a substantial change in the US regulatory environment for cryptocurrencies, coming just five months after the SEC approved 11 spot Bitcoin ETFs.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


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