The US Securities and Exchange Commission (SEC) is expected to approve exchange traded funds (ETFs) linked to the spot price of Ether (CRYPTO:ETH) by July 4, according to industry sources.
Eight asset managers, including BlackRock and Grayscale Investments, are seeking SEC approval for these funds, following the successful launch of spot Bitcoin (CRYPTO:BTC) ETFs earlier this year.
Regulatory discussions are reportedly in the final stages, with minor issues being addressed in the offering documents.
Once approved, these ETFs could begin trading shortly thereafter on major US exchanges like NYSE, Nasdaq, and Cboe.