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Summary
Five companies have filed for amendments to spot ETH ETF filings, with the SEC signaling a leaning towards approval.
Introduction
Optimistic signs have emerged for the approval of spot Ethereum exchange-traded funds (ETFs) as the SEC approaches its deadline. The Depository Trust and Clearing Corporation (DTCC) has listed VanEck’s spot ETH ETF (“ETHV”) on Tuesday, indicating positive developments in the ETF approval process.
Main Points
Last week, the SEC requested exchanges and institutions to amend their 19b-4 filings, a necessary step for spot ETH ETFs to enter the market. Notable investment firms like VanEck, Franklin Templeton, Fidelity, ARK 21shares, and Invesco Galaxy have confirmed these amendments, reflecting a growing momentum in the approval process.
Analysts have revised their opinions on spot ETH ETFs, with Bloomberg analysts increasing the approval probability to 75%. This shift in sentiment comes after initial predictions of slim chances for approval. Institutions like Standard Chartered Bank have also shown support for spot ETH ETF approval, aligning with the SEC’s reported inclination towards approval.
Conclusion
With the SEC leaning towards approval and positive market reactions, including an ETH price rally, the potential approval of spot ETH ETFs is gaining momentum. The evolving landscape of spot Ethereum ETFs indicates a growing likelihood of approval, with major players in the industry backing the move.
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