BlackRock and Co. await approval of Ethereum ETFs

Right now, the entire crypto sector is waiting for the final approval of Ethereum Spot ETFs. For BlackRock, Fidelity and others, it is only a matter of time.

The ETF-issuers BlackRock, Fidelity and others await approval of their ETH exchange products by the U.S. stock market watchdog SEC.

According to an unnamed publisher, such as reported by The Block, a response from the authority is awaited. The SEC's next announcement is considered "highly informative."

After approval of the 19b-4 applications for the proposed Ethereum ETFs led by Gary Gensler, the S-1 applications now remain to be processed. Here, however, the SEC has no mandatory deadline.

"The SEC is continuing its review and we appear to be getting closer to final approval," the source said. "We expect a final filing, but the timing of that is unclear."

According to Bloomberg analyst Eric Balchunas, the SEC would already be on July 18 approve.

ETH responded to the expected approval with a seven percent increase over the past week. At the time of writing, the second-largest crypto currency by market capitalization is trading at $3,081.