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

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  • Cathie Wooden mentioned it could be stunning for the SEC to approve a spot ETF apart from BTC and ETH.
  • Wooden's ARK Make investments is certainly one of a minimum of seven firms aiming to supply spot Ethereum ETFs.
  • The SEC lately postponed a choice on BlackRock and Constancy's spot ETH purposes.

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

In an announcement 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 stunned if something apart from Bitcoin and Ether was authorized by the SEC,” Wooden mentioned. ARK Make investments is without doubt one of the asset administration firms aiming to supply spot Ethereum ETFs.

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

Specifically, Franklin Templeton has introduced his intention to stake ETH to generate further revenue for the ETF, which, if authorized, shall be listed on the Cboe BZX alternate 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 purchasers. 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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