The SEC is preparing to discuss and make some decisions on Spot Ethereum Exchange-Traded Funds (ETFs) this March. Following the landmark approval of Spot Bitcoin ETFs in January, and their continuous success, Spot ETH ETFs could be next on the ballet for crypto implementation in stock trading.
Reuters reports that the SEC is planning meetings with spot Ethereum ETF applicants next month. Since the approval of the Bitcoin ETFs though, the regulator has given delay after delay to a decision on pending Ethereum ETFs. When the Bitcoin products were approved, SEC Chair Gary Gensler made it known that despite their decision, the SEC wasn’t a supporter of Bitcoin or any other crypto. However, they approved for the benefit of trade and due to wide demand/court pressure.
The upcoming SEC meetings will begin discussions on the pros and cons of an Ethereum ETF becoming available on the market, and will likely feature multiple sit-downs with pending applicants. Grayscale, VanEck, and other asset managers are looking to add an Ethereum ETF to their menu.
Also Read: Ethereum Breaches $3,200; Can ETH Hit $4,000 Next?
The SEC postponed decisions on spot Ether-based products until May at the earliest. However, they can further discuss the products and begin meeting with issuers in March.
Ethereum, similarly to Bitcoin, has been on the rise in the past month. It is up nearly 50% in the last 30 days and is currently trading at $3,356.16.
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