US SEC nod to first spot Ether ETF to begin trading on Tuesday

economictimes.indiatimes.com:

exchange-traded funds (ETFs) will begin trading on Tuesday following final approval from the US Securities & Exchange Commission (SEC).

At least two of the eight firms that applied, including BlackRock and VanEck, have been authorised to launch their products. These ETFs will be available on three major exchanges Cboe, Nasdaq, and NYSE all ready for the debut.

Ether (ETH) is the underlying cryptocurrency of the Ethereum network, which is the second-largest crypto network when measured by market cap.

Raj Karkara, COO of ZebPay, highlighted the significance of this approval, stating, «The approval of Spot Ethereum ETFs is a landmark win for the crypto industry and the democratisation of finance and technology. It symbolises a maturing market and regulatory support, which is crucial for long-term growth.»

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Pankaj Balani, CEO & Co-Founder of Delta Exchange, said, «The impending ETH ETF approval can act as a positive catalyst for the market here and some recovery can be expected around that announcement. Having said that, the transaction