The United States Securities and Exchange Commission (SEC) has approved the listing and trading of spot Ether (ETH) ETFs, a significant development for cryptocurrency enthusiasts and investors. This decision comes shortly after the approval of spot Bitcoin ETFs, though the approval process differed in that the Ether ETFs were authorized through the SEC’s Trading and Markets Division without a direct vote from SEC Chair Gary Gensler. Critics have expressed concerns about the transparency of this process, suggesting that avoiding a direct vote may protect commissioners from political repercussions. The approval of these Ether ETFs, managed by BlackRock and Fidelity, signals a potential endorsement of ETH as a non-security by the SEC, despite ongoing debates about its status. The market response to the news was relatively subdued, with Ether’s price experiencing a slight decrease before recovering, indicating that the announcement had been largely expected by investors.
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