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In what is certainly a notable development for the ongoing approval process, US lawmakers have urged the US Securities and Exchange Commission (SEC) to approve Spot Ethereum ETFs. Indeed, a letter from the Congress of the United States has called on the agency’s chair, Gary Gensler, to approve the investment offering. Lawmakers request consistency in the agency’s approach to digital asset exchange-traded product approval. Specifically, they have insisted Gensler “apply the same principles set forth in the approval of Spot Bitcoin ETFs” to the Ethereum-based investment vehicle. JUST IN: US lawmakers urge SEC to approve spot Ethereum ETFs, Politico reports. — Watcher.Guru (@WatcherGuru) May 23, 2024 Also Read: BlackRock Files updated 19b-4 Form for Spot Ethereum ETF US Lawmakers Issue Letter Urging SEC to Approve ETH ETF Over the last several days, the prospect of spot Ethereum ETF approval in the United States has drastically inc...

Cryptocurrency exchange Coinbase has recently stated its expectation that proposed Spot Ethereum ETFs have a 30%–40% chance of approval by the end of this month. Indeed, the exchange issued a report upgrading the investment offerings’ approval odds. The US Securities and Exchange Commission (SEC) is facing a critical impasse concerning Spot Ethereum ETF applications. Specifically, the President of the ETF Store, Nate Geraci, has recently revealed that the agency is set to make a decision on the Ether ETF this week. Also Read: Coinbase to Tap Into Australia’s Billion Dollar Pension Sector Coinbase Says Ethereum ETF Approval Has Up to 40% Chance The digital asset sector has undergone a massive shift since the start of the year. Indeed, the SEC had approved spot Bitcoin ETFs for the first time in the United States. Subsequently, the sector saw a massive surge in assets across the board. However, it was led by BTC, which reached an all-time high of $73,000 in March. ...