Spot Ether ETF approvals (S-1 Approval) will take some time
Last month we got great news that the spot ETF registration for Ethereum was approved by the Security and Exchange Commission. This was certainly great news for the community worldwide and because of this, we have seen the market doing better in recent days. Bitcoin is already trading beyond 70K US dollars and ethereum is also doing pretty well.
Now there is an update that the S1 approval for Ethereum Spot etf will take some time and this update has been shared by Gary Gensler from the Security and Exchange Commission. This process consists of two parts. The first part is the approval for 19b-4 filings and this has been approved by the SEC. Now second part of this process is to approve S-1 and this is still pending. It was expected that this should be done in the next couple of weeks however looks like the process is going to take some time as per Gary. There must be some process in place by the SEC to ensure that whatever they are approving is compliant with the policy and maybe we can expect approval in the next month or maybe even later as there is no clear timeline shared by him.
Ultimately we have got the green signal from the Security and Exchange Commission for the spot etf approval for Ethereum so hopefully, this weight is going to be not a problem for the community. Bitcoin is already listed on exchanges as spot etf and soon we are going to have Ethereum as well in the same category but this slide delay is expected to happen. Since there is no clear date has been mentioned by the authority hence we can expect that there may be some delay but this delay is not going to be too long.
The Crypto industry is waiting for this approval since this is the second and last part of the process and once this is approved then the spot etf will be listed on the exchanger for trading and will open the door for institutional investors to invest their funds. More money inflow in the market means price appreciation and this is what the crypto community is looking forward to as this might trigger the bull run sentiments in the market.
Thanks
Posted Using InLeo Alpha
This post has been manually curated by @alokkumar121 from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @alokkumar121 by upvoting this comment and support the community by voting the posts made by @indiaunited.
This post has been manually curated by @alokkumar121 from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @alokkumar121 by upvoting this comment and support the community by voting the posts made by @indiaunited.
Congratulations @kwick! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 3750 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts: