SEC Reverses Position On ETH ETF Applications
Cryptocurrency investors have been busy this week due to the SEC’s sudden reverse in its stance on ETH ETF applications.
This move has been in favor of investors, as BlackRock, the world’s largest asset manager, announced that they would have an ETF even if Ethereum (ETH) was labeled as a security.
The SEC has updated its ETF application, indicating ongoing discussions between the SEC and BlackRock. Potential issuers have been updating their files and removing the staking section that the SEC opposed.
ETH ETFs have become approvable by the SEC, and the final decision dates for VanEck and Ark’s applications are set to expire on May 23 and 24, while Grayscale’s ETHE deadline is May 30. The SEC is likely to approve all applications at once, and interesting developments may occur in the next 48 hours.
(With inputs from Shikha Singh)
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