s news of the Ethereum exchange-traded funds (ETFs) launching soon continues to make waves, a positive update has been brought to light as some of the spot issuers have been given preliminary approval.
Major Insight On Ether ETF Launch
The S-1 form submitted by 8 Ether Spot ETF issuers for signing and approval seemed to be the major holdback in the Ether ETF launch that is now closer than ever. However, the positive news breaking from the Ether ETF space is that the United States Securities and Exchange Commission, SEC, has given preliminary approval to about three Ether ETF spot issuers.
BlackRock, Franklin Templeton, and VanEck are the three companies that report claims have been given preliminary approval by the SEC as trading operations have been suggested to begin soon, next Tuesday to be precise.
Grayscale, Fidelity, Bitwise, Invesco Galaxy, and ARK 21Shares are the other 5 Ether ETF spot issuers who are still trying to get approval from the SEC to commence trading when the product is launched next week as Ether spot issuers are expected to commence trading activities at the same time.
SEC Requirements Before Launch
Eric Balcunhas, an ETF analyst, has confirmed that the SEC requires a final submission of their S-1 form for approval to take place Today 16th July, when all trading activities for the day come to an end.
The second largest cryptocurrency, Ethereum, is currently trading at $3,407.17 as of the time of this writing.
