Ethereum
House Members Urge SEC to Approve Ethereum ETFs
Members of the U.S. House of Representatives have called on Securities and Exchange Commission Chairman Gary Gensler to sanction Ethereum spot exchange-traded funds (ETFs).
The SEC’s decision on the VanEck Ethereum ETF proposal, expected today, could influence the trajectory of the cryptocurrency market.
The lawmakers’ request follows the SEC’s earlier approval of Bitcoin ETFs, setting a precedent for Ethereum, the world’s second-largest cryptocurrency by market capitalization.
The group of lawmakers called on the agency to apply the same legal framework to Ethereum that is used for Bitcoin ETFs.
Earlier this week, Bloomberg analysts Eric Balchunas and James Seyffart revised their probability of approval from 25% to 75%, citing increased talk about accelerating 19b-4 filings, a crucial step for the ETF launch.
Ether was trading as high as US$3,937 before the SEC’s decision on Thursday, according to CoinGecko data.