La SEC degli Stati Uniti ha finalmente approvato la quotazione degli ETF spot su Ethereum, la notizia ha influito anche sul prezzo della crypto. Inoltre, il responsabile legale di Coinbase afferma che Ethereum è ufficialmente considerato una commodity.
Let’s see all the details below.
Summary
New ETFs on Ethereum receive the green light from the SEC, how did the price react?
As anticipated, the Securities and Exchange Commission (SEC) of the United States has approved the requests of Nasdaq, CBOE, and NYSE to list exchange-traded funds (ETF) linked to the price of Ethereum.
Thus opening up the possibility that these products will start to be traded by the end of the year.
Sebbene gli emittenti di ETF debbano ancora ottenere l’approvazione finale prima del lancio, la decisione rappresenta una vittoria inaspettata per le aziende coinvolte. Infatti, l’intero settore delle criptovalute fino a lunedì temeva un rifiuto della SEC.
Nine issuers, including VanEck, ARK Investments/21Shares, and BlackRock, hope to launch ETFs linked to Ethereum, the second cryptocurrency by market capitalization.
Especially after the approval of the ETF su Bitcoin in January, which marked a crucial moment for the sector.
“This is an exciting time for the industry as a whole,” said Andrew Jacobson, vice president and legal head of 21Shares, calling the approval “a significant step” towards trading these products.
Approval and adjustment of the documents
Thursday also represented the deadline for the SEC’s decision on VanEck‘s request. Market operators were expecting a rejection, as the SEC had shown no signs of accommodating the applications.
Tuttavia, con una mossa sorprendente, lunedì i funzionari della SEC hanno richiesto agli exchange di aggiornare rapidamente i documenti, costringendo l’industria a completare settimane di lavoro in pochi giorni.
The sources were unable to determine the reason for this change in position by the SEC. Rob Marrocco, global head of ETP listings at Cboe Global Markets, commented:
“The introduction of spot ETFs on bitcoin has already demonstrated significant advantages for digital assets and the ETF space, and we believe that spot ETFs on ether will provide similar protections for U.S. investors.”
When asked about ether ETFs during an industry event on Thursday, SEC Chairman Gary Gensler, a well-known skeptic of cryptocurrencies, declined to comment.
A spokesperson for the SEC confirmed via email the approval, adding that the agency would not comment further.
Coinbase: the approval of Ethereum ETFs confirms its status as a commodity
Dopo l’approvazione degli ETF Spot su Ethereum, il Chief Legal Officer di Coinbase, Paul Grewal, ha dichiarato che Ethereum è effettivamente considerato una commodity. In un post su X, Grewal ha affermato che ETH è una commodity “come l’abbiamo sempre saputa”.
The approval of the 19b-4 forms for Spot ETFs on Ethereum represents the first steps towards the official approval of all ETFs on ETH. Coinbase, one of the major cryptocurrency exchanges, is a strong supporter of cryptocurrency ETFs.
Ethereum will join Bitcoin as the only crypto ETF available on the market, paving the way for additional candidates in the future.
Now that the Ethereum ETF 19b-4 forms have been approved, the issuers must wait for the approval of their S-1 forms, necessary to publicly offer new securities and start trading.
The SEC could take weeks or months to process the S-1 forms, especially if it remains dissatisfied with the ETFs. Experts like Grewal express enthusiasm for this first step towards a broad approval.
It is expected that the price of Ethereum will increase significantly, following the example of Bitcoin after the approval of its ETF. At the moment, ETH is traded at over $3,800, up 4% in the last 24 hours and over 25% in the last week.
