SEC received't approve spot ETFs apart from BTC, ETH: Cathie Wooden

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  • Cathie Wooden mentioned it will be stunning for the SEC to approve a spot ETF apart from BTC and ETH.
  • Wooden's ARK Make investments is one among at the least seven corporations aiming to supply spot Ethereum ETFs.
  • The SEC just lately postponed a choice on BlackRock and Constancy's spot ETH functions.

Cathie Wooden, founder and CEO of asset administration agency Ark Make investments, has introduced that the Securities and Change Fee (SEC) has introduced that spot exchange-traded funds (ETFs) tied to cryptocurrencies apart from Bitcoin and Ethereum have been accredited by the Securities and Change Fee. ), he mentioned that he didn’t count on to approve it.

In a press release made in an interview with WSJ's “Tackle the Week” podcast, Wooden mentioned the potential for spot ETFs backed by cash apart from Bitcoin and Ether being listed within the U.S. .

“I’d be shocked if something apart from Bitcoin and Ether was accredited by the SEC,” Wooden mentioned. ARK Make investments is among the asset administration corporations aiming to supply spot Ethereum ETFs.

Moreover, Franklin Templeton, which reportedly has $1.5 trillion in property beneath administration (AUM), filed a Spot Ethereum software with the SEC on February twelfth.

Particularly, Franklin Templeton has introduced his intention to stake ETH to generate further revenue for the ETF, which, if accredited, shall be listed on the Cboe BZX trade because the “Franklin Ethereum ETF.”

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The SEC has not clarified whether or not ETH is a safety or a commodity. Apparently, Promethium, a US-registered crypto securities platform, has revealed that Ethereum would be the first digital asset it manages for institutional shoppers. In the meantime, comparable filings by BlackRock and Constancy have been delayed by the SEC, which states that further time is required to judge and decide the Spot Ethereum ETF.

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