SEC Seeks Changes To Ether ETF Filings, Raising Approval Hopes

The U.S. Securities and Exchange Commission (SEC) is requesting revisions to applications for Ether exchange-traded funds (ETFs), sparking optimism within the cryptocurrency industry, which had previously braced for rejection.

What Happened: “The SEC must decide whether to approve applications by the end of this week,” a Reuters report states.

“Industry executives had expected a thumbs-down, as the SEC had not previously engaged with exchanges on the filings.”

However, the report reveals a shift in the SEC’s approach.

“In a surprise move, SEC officials on Monday asked Nasdaq and CBOE to quickly make updates and changes to the filings,” sources familiar with the process told Reuters.

This request for revisions, typically seen as a precursor to approval, has ignited hope within the crypto community.

Ether Price Soars On Positive News:

The news of potential Ether ETF approval sent the price of Ether ETH/USD soaring.

“The price of ether jumped as much as 18% Monday, and was up another 2.5% at $3,764 early Tuesday morning,” the report details.

Also Read: $241M Spot Bitcoin ETF Inflows On Monday Fuel Rally Above $70K

Looking Ahead: Approval Still Uncertain

While the SEC’s request for revisions suggests a more open mind towards Ether ETFs, final approval remains uncertain. “The exchange applications are the first step in a two-step approval process,” explains the report.

“Even with revisions, the SEC still needs to approve the ETF registration statements before they can start trading.”

This additional step could take several months, meaning investors may still face a waiting game.

The Future Of Crypto Regulation:

The potential approval of Ether ETFs would mark a significant milestone for the cryptocurrency industry, signifying greater mainstream acceptance.

The evolving regulatory landscape surrounding digital assets will be a key topic of discussion at the upcoming Benzinga Future of Digital Assets conference on Nov. 19.

Join the conversation and hear from industry leaders about the future of crypto regulation and investment opportunities.

Read Next: Fidelity Files Amended S-1 for Spot Ether ETF With SEC

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