SEC Approves 8 Ethereum ETFs Including BlackRock and Fidelity

The SEC on Thursday approved multiple spot Ethereum ETFs, including those from BlackRock, Fidelity and Grayscale. The Block reports: While the [19b-4 forms] have been approved, the ETF issuers need to have their S-1 registration statements go effective before trading can begin. The SEC has started conversations with issuers about their S-1 forms but only recently. It's unclear how long this process will take but some analysts are speculating that it could take weeks. "I think that if they work extremely hard it can be done within a couple weeks but there are plenty of examples of this process taking 3+ months historically," added Bloomberg ETF analyst James Seyffart. [...] Since the Bitcoin ETFs were approved, they have amassed an additional 207,000 bitcoin ($14 billion) on top of the 621,000 ($42 billion) bitcoin held in the Grayscale Bitcoin Trust when it converted into an ETF. However, Ethereum ETFs may struggle to get the same level of traction. Bloomberg ETF analyst Eric Balchunas estimated that the Ethereum ETFs may get 10 to 15% of the assets that their Bitcoin counterparts received. "That would put them at like $5 to $8 billion, which, again, for any normal launch in the first couple of years. That's pretty good."

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