SEC approves Ethereum ETF’s but still can’t be available for trading

[Cryptocrit]

The SEC approved rule changes, allowing exchanges to list spot Ethereum ETFs. Each ETF still needs individual approval from the SEC after the issuer submits a detailed registration statement.

Read more:
https://www.cryptocrit.xyz/2024/05/sec-approve-ethereum-etf.html

[TomPluz]

Yes already approved but Ethereum ETFs may not be able to start offering the same to their clients as they must individually get the final nod from SEC to do so. I think this is what differentiates with the approval of Bitcoin ETFs in January and something that may even make things better as SEC must have learned some lessons in the past dealing with ETF applications. Personally, I have nothing against with this decision as there is that big need to vet all applications to make sure that things are in place especially with the idea of protecting prospective investors and possibly limiting risks involved. So I will just forego with this anti-climax perimeter laid down by SEC for spot Ethereum ETF operators. The most important thing is that we can now positively look forward for Ethereum ETFs to be making big inroads in the market...soon!

[Faisal2202]

So that's why we are not seeing any price increment in ETH. Well, I somehow have the idea that it will gain more volume with time but did not know that the trading is not started yet as I am not into ETF trading so did not know that. Thanks for the news. I hope when the trading starts the value of the ETH ETFs will start booming. Or do you think it will also follow the same pattern as BTC did?

Overall, I am happy for ETH and with time it will get the approval for trading as well. It has given people a second option to store their money into like for diversification to minimize the risk of investment. Its good to have this option, I was reading where people are now concerned to know that if there are any other crypto assets ETF in the pipeline or not. What you guys think?