Spot crypto ETFs are financial instruments that allow investors to expose their portfolios to the price of a specific cryptocurrency, without actually having to purchase it.
The SEC, Securities and Exchange Commission of the United States is increasingly closer to approving the first Spot ETF on Ethereum.
In fact, in the last few hours, the SEC has asked anyone interested to provide feedback on Fidelity's proposal regarding the ETH Spot ETF and to allow the CBOE BZX Exchange (American stock exchange which is part of one of the largest companies of trading and clearing in the world, i.e. CBOE Global Markets).
For those who still don't know, Fidelity is one of the largest asset management companies in the world, with over $4.5 trillion in capital under management.
The asset management company, as well as all the long list of institutions involved in the ETF requests, is waiting for the SEC's opinion on the new financial products presented, and this time it is the latter that is urging the progress of the work, which will help furthermore to establish a date by which the SEC must express its opinion by 30 September 2024.
According to most analysts, the SEC is now on the ropes to approve the first Spot ETF on ETH. If this were to happen, it will be a historic event for the entire industry, considering the amount of capital and investors it would bring.
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