Bittime - Even though the SEC approved Ether spot ETFs for companies like VanEck and BlackRock, Ethereum prices remained stable. However, official trading is still pending final SEC approval. Here's the explanation!
Current Ether Price Conditions
Ethereum prices barely changed despite the SEC allowing the launch of Ether spot exchange-traded funds (ETFs) in the United States. Before the significant SEC approval, Ether fell 3.4%.
Then Ether fell again by around 5%. Ether's 24-hour trading volume is $47.5 billion, and its price currently stands at $3,701, according to data from CoinMarketCap.
SEC PermissionEther ETFs are traded on several exchanges
Well-known investment firms such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise received SEC approval for 19b-4 applications. This important goal allows these companies to list and trade Ether ETFs on their respective exchanges.
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ETFs Urgently Need SEC Approval
However, the journey of ETFs is not over yet. They need to get SEC approval before they can officially start Ether spot ETF trading. This can take weeks or months to complete.
This time involves a thorough review of applications to ensure that they meet regulatory requirements. "So, in the worst case, we expect the end of summer," said Georgii Verbitskii, founder of TYMIO, according to crypto.news.
Also Read How To Buy Crypto:
Reasons the SEC Takes 19b-4 Filing Action
Meanwhile, securities regulators' May 20 directive to expedite 19b-4 filings came as a surprise to many. There are speculations as to why the SEC took swift action after this unexpected move.
According to some in the industry, political factors are to blame. A number of dissenting lawmakers have asked the SEC to approve this ETF before approval. They argue that Bitcoin ETFs should be extended to Ethereum.
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Conclusion
Ether prices have barely changed since the SEC authorized the launch of ETFs. Major investment firms such as VanEck, BlackRock, and others have received approval to list Ether ETFs on their exchanges. However, before they can begin official trading, they must obtain final approval from the SEC, which can take up to several months. Speculation about swift action by the SEC stems from political pressure from lawmakers pushing for the development of a Bitcoin to Ethereum ETF.
How To Buy Ethereum (ETH) With Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. Ethereum (ETH) is available on Bittime with ETH IDR pairing. To be able to buy ETH IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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