ETH Not a Security: SEC Implicitly Confirms with Approval of Spot Ether ETFs
- The Securities and Exchange Commission approved nine Spot Ether ETFs to launch on Tuesday.
- While Coinbase acknowledges it as a milestone, CEO Brian Armstrong reiterates that Ether is not a security.
- BlackRock’s ETF head highlights the potential of ETH ETFs to revolutionize the crypto space based on Ether’s utility.
The Securities and Exchange Commission (SEC) has approved nine Spot Ether ETFs for trading, highlighting the exchange-traded funds’ anticipated launch on Tuesday. In an X post, Coinbase hailed the much-awaited ETF launch as a significant milestone that opens up new opportunities for the expansion and diversification of the crypto economy.
ETH ETFs have arrived.
— Coinbase
Today, the SEC approved 9 spot ETH ETF applications. Their much celebrated arrival marks another important milestone for crypto in expanding access to and diversifying our cryptoeconomy.
Here’s whypic.twitter.com/o6KfgGlUDn
(@coinbase) July 22, 2024
Coinbase pointed to the efficiency of the Ethereum ecosystem, which boasts more than 15 million monthly active addresses and 300% growth in smart contracts. While ETH ETFs facilitate access to a differentiated crypto asset,…
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