Ethereum exchange traded funds are eagerly expected by the crypto industry [ETFs] They make their debut. U.S. Securities and Exchange Commission [SEC] The ETFs for spot Ether could even be approved as soon as July 4th. Reports indicate that this comes after discussions with regulators, asset managers and industry leaks.
Gary Gensler was the chairman of the SEC and he previously said he had confidence in the process to approve spot Ethereum ETFs. He said that asset managers were under pressure at the moment. For their registration statement to be valid, asset managers must make full disclosures. Although there are still work Gensler said that things are moving smoothly.
Executives from firms are now waiting to be approved revealed Documentation is at the point in time where there are only a few documents. “minor” Concerns need to be addressed. ETFs are not launched without the authorization of these documents. The approval process, according to one of the attorneys for the issuers was a lengthy and complicated procedure. “down to the finishing touches.” It was noted by him that the situation would be different. “probably not be more than a week or two away.”
Also Read: VanEck Will Offer Ethereum ETF With Zero Fees Till 2025
How many asset management firms are seeking SEC approval for their business?
Eight asset managers await the SEC approval of a spot Ethereum exchange-traded fund. BlackRock is among them, as are VanEck and Franklin Templeton. Fidelity also has ARK 21Shares. Invesco Bitwise Investments Grayscale Investments.
Matt Hougan appears to be optimistic about Bitwise’s investment. In a Tweet, Matt Hougan suggested that Ethereum ETFs’ net flows could hit $15 billion just in the first year. According to him, investors will likely invest in Bitcoin ETFs and Ethereum in proportions based on the respective market capitalizations. In Europe and Canada, Ethereum ETPs account for around 22 percent of assets managed. It is roughly 78% for Bitcoin ETPs.
Also Read: Ethereum ETF Demand to be Lower Than Bitcoin, Says Bernstein
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Source: watcher.guru