Multiple Spot Ethereum ETFs Approved by NYSE Arca, Awaits SEC Nod

• NYSE Arca has authorized the registration and listing of Ether ETFs from Bitwise and Grayscale
• The last stage, which should be completed by tomorrow, is for the SEC to authorize.

Two Ethereum ETFs, one from Grayscale and one from Bitwise, will be listed and traded on the New York Stock Exchange Arca (NYSE Arca). This approval was formally announced by the exchange. In accordance with SEC filings, NYSE Arca has authorized the registration and listing of Spot Ethereum ETFs. These are from Bitwise and Grayscale in accordance with the Exchange Act of 1934.

This certification is vital because it shows that these financial products have been formally introduced to the market. And that they have been accepted by regulators. These exchange-traded funds (ETFs) exist to allow investors to obtain exposure to Ethereum in a controlled way. Apart from actually owning ETH, so to speak.

Waiting for SEC’s Nod

The SEC’s clearance of 19b-4 forms in May was the first stage in a two-part process that led to the listing. In order to go on with the listing approvals, NYSE Arca needed this first clearance. The last stage, which should be completed by tomorrow, is for the SEC to authorize the registration statements to become effective. This will enable the ETFs to start trading tomorrow.

In a move that mirrors that of NYSE Arca, the Cboe Exchange has likewise announced that trading for its planned spot Ethereum ETFs would commence on July 23.

Moreover, market watchers and experts are optimistic about the SEC’s ultimate clearance. Thanks to the update from Cboe, which has solidified the projected schedule. Companies have been working hard to revise their S-1 forms and update their management fees in anticipation of the expected trading debut.

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