The U.S. Securities and Exchange Commission (SEC) is on the brink of approving three major Ethereum (ETH) exchange-traded funds (ETFs) from BlackRock, VanEck, and Franklin Templeton. According to multiple reports, including one from Reuters citing three industry sources, these ETFs are expected to receive preliminary approval, with final approval likely to follow shortly.
The financial giants need to submit follow-up documents to the SEC this week to secure the final go-ahead. If all goes according to plan, these ETFs could start trading as early as next Tuesday, July 23. Eric Balchunas, a senior ETF analyst at Bloomberg, confirmed that the SEC has asked issuers to submit their final S-1 forms, including fee details, by Wednesday.
This development follows the successful launch of the first spot market Bitcoin (BTC) ETFs in January, which brought billions of dollars in inflows to Bitcoin. The approval of Ethereum ETFs is expected to have a similarly positive impact on ETH, potentially driving significant investment into the second-largest cryptocurrency by market cap.
In addition to these three ETFs, all eight Ethereum ETF applications are expected to launch next week, signaling a robust interest and confidence in Ethereum’s market potential. This approval could be a major milestone for Ethereum, bringing more institutional investors into the market and boosting its price and adoption.
