U.S. Securities and Exchange Commission (SEC) could approve spot ether ETFs as soon as July 4

The U.S. Securities and Exchange Commission (SEC) could approve spot ether ETFs as soon as July 4 according to a report from Reuter.

Reuter reports that talks between asset managers and regulators enter the final stages.

Spot ether ETFs are exchange-traded funds (ETFs) tied to the spot price of ether (ETH).

This approval is in the final stages of discussion between asset managers and regulators.

Eight asset managers, including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for spot ether ETFs.

Most of them had rolled out spot bitcoin ETFs in January.

The launch of spot bitcoin ETFs that track the spot price of bitcoin was one of the most successful in the ETF market, drawing $69 billion worth of bitcoin in asset under management as of May 29.

However, many ETF and cryptocurrency analysts believe the launch of the new spot ether ETFs will be less impressive due to differences in market size and nature of the two cryptocurrencies.

Once SEC staff sign off on the filings, the products could start trading in as little as 24 hours.

On the other hand, Gary Gensler is still silent about the launch date of the spot ether ETFs, but said on June 25 at a Bloomberg Invest Summit in New York that "I don't know the timing, but it's going smoothly”.