SEC Approves Spot Ether ETF Listing, Still Needs to Approve Issuers’ Filings
The Commission on Thursday approved 19b-4 forms filed by national securities exchanges.
The Commission on Thursday approved 19b-4 forms filed by national securities exchanges.
Ether spot ETF approval would set a precedent as the first non-bitcoin digital asset to be considered a commodity, raising expectations that solana could follow the same path, the report said.
The forecast mirrors the market reaction after spot bitcoin ETFs were approved in January, QCP said.
There is a 90% probability the SEC will approve a spot ether ETF, one observer said, drawing attention to the narrowed discount in the Grayscale Ethereum Trust.
All the updated forms removed the provisions for staking ether, which some say was causing a regulatory roadblock.
Traders on Lyra have snapped up ether calls at the $5,000 strike and higher this week.
Cboe is the first exchange to publish its revised 19b-4 forms.
The notional open interest, or the dollar value locked in the number of active ether futures contracts, surged by 25% in a day.
Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.
Wisconsin’s state pension put $160 million into BlackRock and Grayscale’s Bitcoin ETFs, showing even risk-averse investors are able to embrace crypto and possibly presaging a “slowly building wave of demand.”