SEC Grants Order for Accelerated Approval of Spot Ethereum ETFs

Vettafi05-28

As reported by VettaFi, the SEC recently granted an order for the accelerated approval of eight spot ethereum ETFs to be traded on U.S. exchanges. Two spot ethereum ETFs on the list, Fidelity’s FETH &...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2439788695?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-28 08:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2439788695","market":"us","top_or_hot":-1,"title":"SEC Grants Order for Accelerated Approval of Spot Ethereum ETFs","media":"Vettafi","content":"<div>\n<p>As reported by VettaFi, the SEC recently granted an order for the accelerated approval of eight spot ethereum ETFs to be traded on U.S. exchanges. Two spot ethereum ETFs on the list, Fidelity’s FETH &...</p>\n\n<a href=\"https://etfdb.com/crypto-channel/sec-oks-accelerated-approval-spot-ethereum-etf/\">Source Link</a>\n\n</div>\n","source":"etfdb_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Grants Order for Accelerated Approval of Spot Ethereum ETFs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC Grants Order for Accelerated Approval of Spot Ethereum ETFs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-28 08:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://etfdb.com/crypto-channel/sec-oks-accelerated-approval-spot-ethereum-etf/><strong>Vettafi</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As reported by VettaFi, the SEC recently granted an order for the accelerated approval of eight spot ethereum ETFs to be traded on U.S. exchanges. Two spot ethereum ETFs on the list, Fidelity’s FETH &...</p>\n\n<a href=\"https://etfdb.com/crypto-channel/sec-oks-accelerated-approval-spot-ethereum-etf/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARKY","symbol_name":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","start_time":0,"source_url":"https://etfdb.com/crypto-channel/sec-oks-accelerated-approval-spot-ethereum-etf/","article_id":"2439788695","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2439788695","pubTimestamp":1716854400,"sourceInfo":{"source_id":"etfdb_highlight","name":"Vettafi"},"weMediaInfo":null,"summary":"As reported by VettaFi, the SEC recently granted an order for the accelerated approval of eight spot ethereum ETFs to be traded on U.S. exchanges. Two spot ethereum ETFs on the list, Fidelity’s FETH & Invesco Galaxy’s ETHX.U, already trade on the Toronto Exchange. As most readers may know, Canada has always been a hub of ETF innovation. Europe has also led the way with several ethereum ETPs. However, what do we know about the eight new ETFs that will be on offer later this year in the U.S.?In no particular order, the eight issuers and their tickers are:. The underlying asset in this case is ethereum  and it distinguishes itself from bitcoin in a few distinct ways.One last item to note is that the ethereum approach for transaction settlement is much faster than the bitcoin approach. Ethereum can process approximately 30 transactions per second. And on average, settlement occurs withing 15 seconds. On the other hand, bitcoin can process seven transactions per second and requires about 10","collect":0,"end_time":0,"defaultTopTitle":"etfdb.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","EFUT":"VanEck Ethereum Strategy ETF","AETH":"BITWISE ETHEREUM STRATEGY ETF"},"translate_title":"美国证券交易委员会批准加速批准现货以太币ETF","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AETH":1,"ARKY":1,"EFUT":1},"content_text":"As reported by VettaFi, the SEC recently granted an order for the accelerated approval of eight spot ethereum ETFs to be traded on U.S. exchanges. Two spot ethereum ETFs on the list, Fidelity’s FETH & Invesco Galaxy’s ETHX.U, already trade on the Toronto Exchange. As most readers may know, Canada has always been a hub of ETF innovation. Europe has also led the way with several ethereum ETPs. However, what do we know about the eight new ETFs that will be on offer later this year in the U.S.?\n\n\nWho Are the 8 Issuers?\n\nIn no particular order, the eight issuers and their tickers are:\n\n\n\nGrayscale (ETH)\nBitwise (AETH)\nBlackRock iShares (ETHA)\nVanEck (EFUT)\nARK 21 Shares (ARKY)\nInvesco Galaxy (unknown)\nFidelity (FETH)\nFranklin Templeton (EZET)\n\n\n\n\n\n\n\n\n\nContent continues below advertisement\n\n\n\n\n\n\n\n\n\n\n\nHow is spot ethereum different from spot BTC?\n\nThe underlying asset in this case is ethereum (or ether) and it distinguishes itself from bitcoin in a few distinct ways.\n\n\n\n\n\nProtocols & Smart Contracts\n\nEthereum is both a cryptocurrency (ether) and a protocol/network. It puts as much emphasis on its programmatic, smart contract capabilities as it does on its cryptocurrency. Bitcoin does not offer a programmable smart contract capability. In simpler terms, the ethereum network can hold ether in escrow between counterparties before a condition is met (e.g., if my order is scanned for shipment by a third party, then pay XYZ vendor 0.05 ETH). Bitcoin does not have this capability.\n\nProof of Stake\n\nIn addition to the programmatic smart contract, ethereum offers a different consensus algorithm for settlement. It uses proof of stake instead of proof of work. Once again, in simpler terms, proof of stake is an approach where ledger consensus is reached by users that have a stake in ethereum by holding ether. These individuals have the privilege of helping to validate a block and receive a transaction fee as a reward. Proof of work, used by bitcoin, on the other hand, is a brute-force computation of a complex cryptographic puzzle. The first miner to solve the puzzle and validate a block wins some bitcoin in the process.\nOne key point to note is that most of the new spot ethereum ETFs initially planned to allow staking. This would have allowed investors to receive transaction fees — analogous to a dividend. However, just before filing with the SEC, all the issuers removed the relevant language that would have allowed them to stake the ether they hold.\nOne last item to note is that the ethereum approach for transaction settlement is much faster than the bitcoin approach. Ethereum can process approximately 30 transactions per second. And on average, settlement occurs withing 15 seconds. On the other hand, bitcoin can process seven transactions per second and requires about 10 minutes to validate a block.\n\n\n\nWhat Do We Know About the 8 New Products Coming to Market?\n\nThe new ETFs should be ready for trading later this year. Based on previous time-to-market with spot bitcoin ETFs, we could see these products trading on U.S. exchanges in a matter of months.\nThe fees on these products are still a bit murky, but currently we are seeing proposed ranges from 0.60% to 2.50%. Although there is a wide dispersion in fees, it’s yet to be seen how these products will differentiate themselves beyond that.\n\n\n\n\n\nStaking – In this case, holders of the spot ethereum product would be involved in staking ether, yielding potential payments if the fund’s holders assist in block validation.\nThis information is still evolving and may be based on similar products recently released like spot BTC ETFs.\nFor more news, information, and analysis, visit the Crypto Channel.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2439788695"}