SEC Approves Ether ETFs in Major Shift for Cryptocurrency Market

The unexpected decision allows eight funds to trade, marking a significant regulatory reversal and expanding access to digital assets.

The SEC has approved eight spot Ether ETFs, a surprising move after months of anticipation for a rejection.
This decision follows the approval of Bitcoin ETFs in January, further integrating major cryptocurrencies into mainstream finance.
The approval is seen as politically driven, with shifting regulatory attitudes and bipartisan support in Congress.
Major financial institutions like BlackRock, Fidelity, and Grayscale are among the approved issuers.
The launch of these ETFs could attract significant investment, though the SEC still needs to approve detailed registration documents.