Breaking: SEC Approves First Ether Futures ETF

SEC Gives Green Light to Nasdaq Application

Price of Ether Surges After News

The United States Securities and Exchange Commission (SEC) has approved applications from Nasdaq to list and trade Ether futures exchange-traded funds (ETFs). This marks the first time the SEC has approved an Ether futures ETF, paving the way for increased institutional access to the world's second-largest cryptocurrency.

The approval comes after a rigorous review by the SEC, which included analysis from Nasdaq and its own examination of the underlying Ether market. The SEC has determined that the Ether futures market is sufficiently mature and liquid to support an ETF.

The news has sent the price of Ether surging by around 11% to over $1,700. This follows a months-long downturn in the crypto market, which began in 2022. The approval of an Ether futures ETF is seen as a sign of growing institutional interest in the cryptocurrency.

Experts believe that the SEC's approval of the Ether futures ETF is a major milestone in the development of the cryptocurrency market. It allows investors to gain exposure to Ether without having to directly purchase or hold the cryptocurrency.

The Ether futures ETFs are expected to launch on Monday, August 21, 2023.