Recently, the United States Securities and Exchange Commission (SEC) made a significant move in the cryptocurrency market, asking exchanges intending to list Ethereum (ETH) exchange-traded funds (ETFs) to update their registrations. According to Joseph Edwards, head of research at Enigma Securities, this action suggests an important advance in the regulation of cryptocurrency ETFs.

“Opposing the ETH ETF after BTC was approved always seemed like an odd case for the SEC to try to push unless they were willing to open up questions about the status of Ethereum securities more broadly, and it is likely that the decision has come somewhere not to accept this fight,” Edwards explained to Reuters.

The SEC, through a spokesperson, chose not to comment on specific filings, maintaining a discretion regarding its regulatory actions.

Optimism regarding the approval of a spot Ethereum ETF in the US has grown significantly, with Bloomberg analysts Eric Balchunas and James Seyffart increasing the probability of approval from 25% to 75%. They attributed this change to political factors that influence the regulator’s decisions.

This promising scenario has already started to be reflected in the market, with the price of ETH rising 22.5% in just 24 hours, a boost that also benefited the cryptocurrency market as a whole.

During the same week, the SEC reviewed spot Ethereum ETF proposals from VanEck and ARK Investment Management. It is expected that a general approval will be issued, similar to what happened with Bitcoin ETFs, making it possible to trade all Ethereum spot ETFs in the US.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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