🥸🪽SEC approves Ethereum ETF options for Bitwise and Grayscale.
The U.S. Securities and Exchange Commission (SEC) has greenlit the applications from Bitwise and Grayscale to trade options on their spot Ethereum exchange-traded funds (ETFs).
This decision follows a similar approval for BlackRock, marking an important milestone for the cryptocurrency market.
The SEC, through an "accelerated approval" process, has allowed NYSE American LLC to list options on Bitwise and Grayscale's Ethereum ETFs, including the Grayscale Ethereum Mini Trust. This move is seen as a key advancement for ETF issuers, who seek to expand investment options in
#Ethereum. .
This approval comes after the SEC approved spot Ethereum ETFs in 2024, and follows the precedent set with Bitcoin ETFs, whose options were also approved following their launch.
Analysts like James Seyffart and Nate Geraci anticipate an increase in the availability of Ethereum derivative products, including hedging strategies and risk-buffering products.
The news has had a positive impact on the price of Ethereum, which experienced a significant recovery, surpassing 1,650 USD. This development reinforces the legitimacy of digital assets in the eyes of regulators and major financial players.