Briefly

• asset managers ARK Invest and 21Shares applied for an Ethereum ETF’s regulatory approval.
• This would be the first US Ether ETF with direct exposure to the spot price of the cryptocurrency if approved.
• Grayscale’s spot Bitcoin ETF was denied by the SEC, but a court overturned that decision, resulting in the application.

The first step toward launching an exchange-traded fund (ETF) directly holding Ether (ETH) has been taken by asset managers ARK Invest and 21Shares.

On Wednesday, the two businesses made an application to the US Securities and Exchange Commission (SEC). Their proposed Ark 21Shares Ethereum ETF is currently awaiting approval from regulatory authorities.

A First for Ethereum ETFs

This would be the first Ether-based exchange-traded fund (ETF) with direct exposure to ETH, the second most popular cryptocurrency, if it were approved. The fund stated in its application that it would work with Coinbase Custody Trust Company to store its ETH assets.

In addition, the application explains that the majority of the ETF’s Ether holdings would be kept in cold storage for security reasons.

The news caused Ether’s price to skyrocket before plummeting to roughly $1,630, where it had been trading earlier in the day.

Grayscale recently won a court case against the SEC regarding a Bitcoin ETF, which led to this application.

By requiring a surveillance-sharing agreement, the SEC acted arbitrarily, according to the Court of Appeals. The SEC’s rejection of a proposed rule change to allow the listing in 2022 is overturned by this.

Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Godleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +160 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Godleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

SEC Has Postponed Its Bitcoin ETF Decisions Until October

Grayscale stated on September 5 that it would like to meet with the SEC as soon as possible. It intends to speed up the approval procedure.

The SEC announced that it would delay its decision on a number of spot Bitcoin ETFs following the decision. Now through October 17, the review period will be open.

Cathie Wood started ARK Invest, which invests in disruptive innovation and is particularly bullish on cryptocurrencies, particularly Bitcoin (BTC). There is a good chance that the Ether ETF application will get a lot of attention.

However, the SEC’s stance remains uncertain. It is unclear if the regulator will oppose the ETF or whether the saga will end up in court like its Bitcoin counterpart.