The American Securities and Exchange Commission (SEC) may give its consent to the establishment of a spot ether ETF as early as July 4, Reuters reports, citing anonymous sources.
According to news agency sources, negotiations between the SEC and interested cryptocurrency companies have reached the final stage. Reuters recalls that eight asset management firms have applied for spot ether ETF approval, including: BlackRock, VanEck, Franklin Templeton and Grayscale Investments.
Most of these asset managers launched spot bitcoin ETFs in January following SEC approval. They received record funds – 8 billion. dollars. This created demand for the largest cryptocurrency, so its price reached a record high in mid-March.
Reuters points out that many ETF and cryptocurrency market analysts doubt such success in the case of ether.
"Ether is not the same size in terms of capitalization and it doesn't have the same trading volumes," James Butterfill, head of analysis at Coinshares, told the agency.
Today, the price of Ether is about two percent to 3474.126 thousand dollars. Since the beginning of this year, this currency has appreciated by fifty-three percent against the American dollar, and by almost eighty-one percent in the last one year.
