US Regulators Set to Approve Ether-Based ETFs

US regulators have informed at least three out of eight firms applying to launch ether-based exchange-traded funds (ETFs) that approval is likely. The SEC has told firms to submit their final offering prospectuses by the end of the week, aiming for an effective date of July 22.

US regulators are poised to approve exchange-traded funds (ETFs) tied to the price of ether, the world's second-largest cryptocurrency, potentially launching these new products on Tuesday, July 23. This information comes from three industry sources involved in the process.

The Securities and Exchange Commission (SEC) was not immediately available for comment. However, industry insiders disclosed that regulators have requested final offering prospectuses from the firms by the end of this week. Should these submissions prove satisfactory, the SEC will set an effective date of July 22 for the new financial products, allowing trading to begin the following morning.