Spot Ether ETFs likely to begin trading July 23 in US: Sources

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NEW YORK - The US Securities and Exchange Commission (SEC) has given preliminary approval to at least three of the eight asset managers hoping to launch exchange-traded funds (ETFs) tied to the spot price of Ether to begin trading on July 23, three industry sources said.

The market value of Bitcoin is just over US$1 trillion compared with Ether’s US$359 billion, according to CoinGecko.“It’s important to temper expectations,” Mr Leinweber said.

SEC chair Gary Gensler in June said the Grayscale ruling had influenced his thinking on approving the Ether products because the underlying market circumstances were similar.

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Category: EconomyBusiness

Markets: Singapore

Topics: Products Launch Market Etfs Cryptocurrency Billion Digital Asset Bitcoin Ether Trading

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 11:10:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 596 words

Reading Time: 4 minutes read

Sentences: 26 lines

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Copyright Owner: © The Straits Times

News ID: 21644164

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