A recent report from Barron's suggests that the SEC has indicated it is likely to approve the first spot Ethereum ETF in the U.S.
The U.S. Securities and Exchange Commission (SEC) is reportedly preparing to approve exchanges for listing spot Ether (ETH) exchange-traded funds (ETFs) from asset managers.
Multiple sources familiar with the matter told Reuters on May 21 that the SEC has contacted Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to request updates and changes to pending spot Ether ETF applications.
The exchange applications are seeking SEC approval for a rule change necessary to list the new products. However, issuers also need the agency to approve the ETF registration statements before they can start trading.
Unlike the exchange filings, there is no specific time frame for the SEC to make a decision on registration statements, so it could still take several standard Ether ETFs to begin trading.
The report comes as the SEC is set to decide on VanEck’s spot Ether ETF by May 23 after having already delayed the process for 240 days. Notably, investors will also be closely monitoring several Federal Reserve speakers today and eagerly awaiting the release of minutes from the latest Federal Open Market Committee meeting on Wednesday.
According to CME’s FedWatch Tool, there is a 96% likelihood that central bankers will maintain steady interest rates in June.
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