SEC officially approves spot Ethereum (ETH) ETFs

US Securities and Exchange Commission (SEC)officially approved Bitcoin ETFs in January We conveyed it to you. Following Bitcoin ETFs, the SEC officially approved spot Ethereum (ETH) ETFs last night. explained.

As a result of an application made on May 23, the SEC said: VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy ve Bitwise‘of 19b-4 applications Confirmed. Thus, these institutions can open spot Ether ETFs. List them on their own exchanges ve to be processed will be able to provide. The most important change seen in 19b-4 applications was the removal of staking.

Currently, following the approval of 19b-4 applications, the SEC’s S-1 registration statements He has to sign it. Thus, ETF issuing institutions, Official trading of spot Ether ETFs will be able to start. It is not yet known when the S-1 registration statements will be signed.

Meanwhile, the SEC has not announced its decision on Hashdex, which has applied for a spot Ether ETF. Let us note that the deadline for response to Hashdex’s application is May 30, 2024. The SEC’s approval decision for Hashdex’s ETF remains uncertain.

Market impact of Spot Ethereum ETF approval

Expected spot approvals from the US Securities and Exchange Commission (SEC) had impacted the daily trading volume of Ethereum futures exchange-traded funds (ETFs) this week. On May 22, Ethereum futures exchange-traded funds reached an all-time high. In Ethereum futures ETFs Tuesday Transaction volume of $47.75 million happened. This metric is as seen on March 5 $34.18 million your record 40 percent on. Meanwhile spot ETF ve futures ETF We have previously detailed the difference let’s remind.

Within an hour of the approval announcement, ETH was traded before US market closing time. for 3 thousand 500 dollars decreased by . When the first rumors were shared that spot ETFs were approved 3 thousand 900 dollars ETH rose to around, after the approval over 3 thousand 800 dollars settled.

Amid volatility, liquidations on all leveraged crypto derivative positions The highest level since May 1 reach within the day exceeded 350 million dollars.