The U.S. SEC Prepare to Approve Ethereum ETFs
The U.S. SEC might soon approve special Ethereum funds called ETFs. Six companies have applied, while many await decisions on Bitcoin funds.
The U.S. Securities and Exchange Commission (SEC) might soon allow the first Ethereum Futures-based funds. These are special kinds of funds called exchange-traded funds (ETF).
People who know about this said the SEC plans to approve it. However, the SEC has not officially spoken about it.
According to a report from Aug. 17, some companies might get permission to start an Ethereum ETF by October. The SEC seems to support this and is not planning to stop it.
It's not clear which companies will get the permission. But six companies have asked for approval. These include Ether Strategy ETF, Bitwise, Roundhill, VanEck’s, ProShares, and Grayscale.
Meanwhile, many companies are waiting for the SEC to decide about Bitcoin ETFs. Bitcoin ETFs are not moving forward because the SEC has concerns.
Cathie Wood, the head of Ark Invest, thinks the SEC will allow many Bitcoin ETFs at the same time, not one by one. Her company is also waiting for an answer about their Bitcoin ETF.
Lastly, on June 30, the SEC said some documents given by companies for Bitcoin ETFs weren't clear and understandable enough.
