The U.S. Securities and Exchange Commission (SEC) has reportedly given preliminary approval to at least three asset managers for their spot <a href="https://www.cryptoknowmics.com/news/ethereum-etfs-poised-to-boost-eth-to-new-highs/" target="_blank" rel="noopener">Ether exchange-traded funds</a> (ETFs). This development suggests that these ETFs could begin trading as early as next Tuesday. According to <a href="https://www.reuters.com/technology/spot-ether-etfs-likely-begin-trading-july-23-industry-sources-say-2024-07-15/" target="_blank" rel="nofollow noopener">sources</a>, the approval is contingent on applicants submitting final offering documents by the end of this week.

[embed]https://twitter.com/NateGeraci/status/1812961815833305104[/embed]
<h2>Key Players in the ETF Launch</h2>
The asset managers expected to receive approval include BlackRock, Franklin Templeton, and VanEck. Other companies in the running are Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy. All eight spot Ether ETFs are anticipated to launch simultaneously, following a similar approach to the SEC's handling of spot Bitcoin ETFs.
<h2>Final Steps Before Trading</h2>
[embed]https://twitter.com/EricBalchunas/status/1812930206933655759[/embed]

Eric Balchunas, a Bloomberg ETF analyst, noted that the SEC has instructed issuers to submit their final S-1 filings by July 16. These filings must include the fee structure for the spot Ether ETFs. Balchunas expects the SEC to officially approve the S-1s after trading hours on Monday, paving the way for the ETFs to start trading on Tuesday, July 23.
<h2>Industry Optimism</h2>
[embed]https://twitter.com/BitwiseInvest/status/1805976924239360337[/embed]

Bitwise’s chief compliance officer, Katherine Dowling, indicated that there have been fewer issues in the SEC’s review process, suggesting that the launch is imminent. Bitwise’s chief investment officer, Matt Hougan, speculated that the spot Ether ETFs could attract up to $15 billion in inflows within the first 18 months of trading, mirroring the success of spot Bitcoin ETFs launched six months ago.
<h2>Market Impact</h2>
If approved, the spot Ether ETFs will be listed on major exchanges such as the Nasdaq, New York Stock Exchange, and Chicago Board Options Exchange. Currently, Ether is trading at $3,484, up 6.7% over the last 24 hours, reflecting growing investor interest in anticipation of the ETF launches.

The potential approval of these ETFs marks a significant milestone in the cryptocurrency market, promising increased accessibility and investment opportunities for both retail and institutional investors.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

SEC Poised to Approve Multiple Spot Ether ETFs for Launch Next Week

The SEC is set to give preliminary approval to at least three spot Ether ETFs, with all eight expected to start trading next Tuesday, fueling market excitement.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

SEC Poised to Approve Multiple Spot Ether ETFs for Launch Next Week

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