The US Securities and Exchange Commission (SEC) is one step closer to approving spot Ethereum ETFs.
According to Reuters, the SEC has requested officials of the Nasdaq and CBOE exchanges to update their filings on spot Ethereum ETFs.
VanEck, ARK Investment Management and seven other issuers have filed to establish a spot Ethereum ETF. The SEC is expected to rule on VanEck and ARK's applications on May 23 and 24, respectively.
The SEC's feedback to exchanges and issuers on the ETF applications indicates that a constructive dialog has begun between the parties. Fidelity Investments, one of the applicants, said today that there will be no staking in its ETF, in line with the SEC's expectations.
The Ethereum price rose 21.8% on the day to over $3,700 on expectations that ETF applications would be approved.
