The US Securities and Exchange Commission (SEC) has approved a cryptocurrency exchange-traded fund (ETF) in a significant move for the cryptocurrency market. This ETF will include Bitcoin and Ethereum in its portfolio and is expected to be approved by March 2025.
Nate Geraci, an ETF specialist, pointed out the significance of the approval of the first ETF product combining Bitcoin and Ethereum. The SEC has approved 11 Bitcoin ETFs and eight Ethereum spot ETF issuers’ 19b-4 forms. However, S-1 filings for these ETFs are still pending approval from the SEC before trading can commence.
In a recent development, the SEC has returned S-1 forms for potential Ethereum ETF issuers, marking another step in the process before these funds can be put into effect. The documents were returned with specific comments and must be addressed before a new submission on July 8th. This return of S-1 forms does not mark the end of the process, as at least one more round of filings and reviews will be required before Ethereum ETFs can begin trading.
It is essential to note that the views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Analysts predict a positive month for Bitcoin and Ethereum, with a strong recovery expected for both cryptocurrencies.