SEC Approves Spot Ether ETF Without Formal Vote

SEC Approves Spot Ether ETF Without Formal Vote



The United States Securities and Exchange Commission (SEC) approved spot Ether exchange-traded funds (ETFs) on May 23, marking a distinct departure from the approval process used for spot Bitcoin ETFs earlier this year.



Unlike the spot Bitcoin ETFs, which were approved following a vote from the five-member committee, including SEC Chairman Gary Gensler, the spot Ether ETFs received approval through the SEC’s Division of Trading and Markets.



The SEC sanctioned the 19b-4 filings from prominent financial firms such as BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. The official decision came without additional commentary from the SEC. The filing indicated:



“For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.”



This procedural divergence spark


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