Unlike the spot Bitcoin ETF, which was approved via voting by a five-member committee, including SEC chief Gary Gensler, the spot Ether ETF was approved by the Trading and Markets Division of the SEC.
The United States Securities and Exchange Commission (SEC) approved the spot Ether exchange-traded fund (ETF) on May 23, but the approval process differed slightly from the spot Bitcoin ETF approval in January.
Unlike the spot Bitcoin (BTC) ETF that was approved via voting by a five-member committee including SEC chief Gary Gensler, the spot Ether (ETH) ETF was approved by the Trading and Markets Division of the SEC.
The SEC approved the 19b-4 form of BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton but declined to comment beyond the official decision. The official filing read:
