BlackRock and Co. Await Approval of Ethereum ETFs

The entire crypto sector is currently waiting for the final approval of Ethereum Spot ETFs. For BlackRock, Fidelity, and Co., it's only a matter of time. The ETF issuers BlackRock, Fidelity, and Co. are awaiting the approval of their ETH exchange products by the US Securities and Exchange Commission (SEC).

As an unnamed issuer explained to The Block, they are waiting for a response from the authority. The next announcement from the SEC will be "extremely enlightening." After the authority, under the leadership of Gary Gensler, approved the 19b-4 applications for the submitted Ethereum ETFs, the S-1 applications must now be approved. However, the SEC does not have to adhere to a deadline.

"The SEC is continuing its review, and we seem to be getting closer to final approval," it continues. "We expect a final filing, but the timing is unclear."

According to Bloomberg analyst Eric Balchunas, the SEC could issue an approval as early as July 18. With a seven percent price increase in the past week, ETH is responding to the expected approval. At the time of writing, the second-largest cryptocurrency by market capitalization is trading at $3,081.

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