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SEC approves spot ether ETFs

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News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot ether ETF.

VanEck’s head of digital assets research, Matthew Sigel, says: “This milestone anticipates more legal victories and increased investments in bitcoin, Ethereum, and other blockchains.

“We expect this trend will pave the way for more victories via new laws and in the courts, helping to draw investment to Bitcoin, Ethereum, and other open-source blockchain software.

“We applaud this decision, as we believe the evidence clearly shows that ETH is a decentralised commodity, not a security. ETH’s status as a commodity has now been recognised in a variety of circumstances, including the Commodity Futures Trading Commission (CFTC)’s regulation of ETH futures, public statements by Commission officials, rulings by federal courts, and now, hopefully, this ETF.”

Greg Moritz, COO and Co-founder of Alt Tab Capital, a full-service, crypto hedge fund, also welcomed the news.

“The SEC’s approval of Ethereum spot ETFs is a huge win for investors everywhere.  There is massive demand for digital assets and for too long access to them has been restricted to either the technically savvy or the already wealthy.  We see the largest financial institutions in the world creating products to meet that demand and now we see a regulatory decision that embraces progress.

“Perhaps the more interesting question the ETF approval poses, is that if it is possible for ETH, what other altcoins is it possible for?”

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