A new page is written in the history of cryptocurrencies this after the SEC officially approved the Ether ETF which will somehow positively impact the rise of alternative cryptocurrencies or at least that is what is expected.
What is certain is that, "The U.S. Securities and Exchange Commission gave the green light to several spot Ether ETFs after speculation that the regulator might treat ETH as a security."
It was learned that officially, "In a May 23 filing, the SEC approved 19b-4 filings by VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise; approving rule changes allowing spot Ether ETFs to be listed and debut on their respective exchanges"
According to several reports, the SEC instructed filers to accelerate their 19b-4 filings on May 20. The elimination of staking is the most notable amendment seen in several filings.
Importantly, "The SEC's approval comes a day after members of the U.S. House of Representatives voted in favor of legislation that many believe will provide more regulatory clarity to the cryptocurrency industry. The Financial Innovation and Technology for the 21st Century Act will clarify the roles of the SEC and the Commodity Futures Trading Commission, but it still needs to be passed by the Senate and signed into law."
SOURCES CONSULTED
Cointelegraph. Spot Ether ETFs receive official approval from the SEC. Link
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The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
