SEC Approves First Spot Ethereum ETFs in Landmark Decision**

In a historic move, the U.S. Securities and Exchange Commission (SEC) greenlit **eight spot Ethereum ETFs**, including applications from BlackRock, Fidelity, and Grayscale. This follows weeks of speculation and last-minute adjustments to filings to address regulatory concerns.

- **Key Details**:

- Approval paves the way for institutional ETH exposure, similar to Bitcoin ETFs, which have amassed $60B+ in assets.

- ETH surged **12%** post-announcement, hitting $3,850 before stabilizing near $3,750.

- Trading is expected to begin by late June, pending final S-1 approvals.

*Why It Matters*: Ethereum joins Bitcoin in the ETF arena, potentially reshaping institutional crypto adoption and boosting ETH’s legitimacy as a “commodity” in regulatory debates. #ETH