Approvals follow January debut of first US spot bitcoin ETFs
The US Securities and Exchange Commission has paved the way for the potential launch of eight exchange traded funds tied to the world’s second-largest digital coin, following the regulator’s approval of the first bitcoin ETFs earlier this year. The regulator on Thursday approved rule changes in support of ETFs that invest in ether, the native cryptocurrency of the ethereum blockchain, for several groups including BlackRock, Fidelity, Invesco and Ark Invest.
“We hope this approval indicates a willingness by the SEC to approve the launch of these products.” “I think most of us were resigned to a disapproval order coming down the pike,” said Katherine Dowling, general counsel for Bitwise Asset Management, one of 11 US bitcoin ETF issuers and which has filed to launch an ether ETF. It is unclear if and when the SEC will grant the second round of approvals needed before the products can launch.
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