SEC asks exchanges to fine-tune ether ETF filings in positive sign for approval, say sources

The U.S. securities regulator on Monday asked Nasdaq, CBOE and NYSE to fine-tune their applications to list spot ether exchange-traded-funds , signaling the agency may be poised to approve the filings, multiple people familiar with the process told Reuters. Securities and Exchange Commission officials asked the exchanges to submit their revisions by the end of Tuesday, two of those sources said.

The price of ether jumped as much as 18% Monday and was up another 8.6% at $3,802 late Tuesday morning before retreating slightly to hover at around $3,747 Tuesday afternoon. The SEC had not engaged with exchanges and issuers on the filing details, leading industry executives to expect it would reject them.

These applications contain hundreds of pages of disclosures," he said. "I can’t imagine that they could review this in time for a launch by May." The first issuers filed for the spot ether products after the SEC approved ETFs tied to ether futures in October. But market participants had expected the SEC to reject the ether ETF applications, citing discouraging and one-sided meetings with the regulator.

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