“This is an exciting moment for the industry at large,” said Andrew Jacobson, vice-president and head of legal at 21Shares, noting it was “a significant step” towards getting the products trading.
Thursday was the deadline for the SEC to decide on VanEck’s filing. Market participants were bracing for the thumbs-down because the SEC had not engaged with them on the applications.
But in a surprise move, SEC officials on Monday asked the exchanges to quickly fine-tune the filings, sending the industry scrambling to complete weeks of work in just days, sources said.
Reuters could not ascertain why the SEC appeared to have a change of heart.
“The introduction of spot bitcoin ETFs has already demonstrated significant benefits for the digital assets and ETF space, and we believe that spot ether ETFs will similarly provide safeguards for US investors,” said Rob…
