US regulators could approve spot ether ETFs for launch by July 4

The U.S. Securities and Exchange Commission could approve exchange traded funds (ETFs) tied to the spot price of ether as soon as July 4, as talks between asset managers and regulators enter the final stages, industry executives and other participants told Reuters.

Eight asset managers, including BlackRock, VanEck, Franklin Templeton and Grayscale Investments, are seeking SEC approval for the funds. Most of them had rolled out spot bitcoin ETFs in January, the culmination of a decade-long tussle with regulators. Grayscale again hopes to convert an existing trust into an ETF.