According to a Reuters article, the US Securities and Exchange Commission has requested that Nasdaq and Chicago Board Options Exchange make necessary updates to their application to list Spot Ethereum ETFs.
In fact, this request is made amid high expectations about the approval of Ether-based investments. The request was made earlier this week. Bloomberg The odds for Ethereum ETF’s approval have increased from 25% to an amazing 75%.
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SEC requests Nasdaq and Cboe to provide an update on ETH ETF filings
![Hong Kong To Approve Spot Bitcoin & Ethereum ETFs By Monday](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Ethereum-ETF-Approval-Not-Likely-in-May.jpg)
In the beginning of 2024, the SEC granted the first ever Spot Bitcoin Exchange Traded Funds (ETFs) in the United States. This led to a huge success for BTC, which reached an all-time peak of $73,000 in just a few months.
After that, the market for digital assets carefully watched which asset might follow. All eyes were naturally on Ethereum, the second largest digital asset. But the SEC was reluctant to give it a clear security rating.
In contrast, the SEC has requested revisions of the investment product. The SEC sent a request to Cboe and Nasdaq to update their application to list Ethereum spot ETFs.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/SEC-Asks-Nasdaq-Cboe-to-Update-Spot-Ethereum-ETF.jpg)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/SEC-Asks-Nasdaq-Cboe-to-Update-Spot-Ethereum-ETF.jpg)
Please Read This: SEC Asks Exchanges To Update 19B-4 filings For Spot Ethereum ETFs
These requests usually come before approval. In fact, this appears to be the first step in a process that looks increasingly inevitable. Nasdaq, Cboe and NYSE are currently the only exchanges that have been contacted.
Requests have definitely changed the narrative. Expectations for investment products have skyrocketed. According to, Ethereum’s price has increased by up to 22% over the past 24 hours. CoinMarketCap.
The crypto is trading at a price above $3,770, and its volume has risen 300% in anticipation of the market. As the SEC’s talks with issuers are taking an interesting turn, the focus is now on the timing of the product approval, not if.
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Source: watcher.guru