The approval of the spot Ethereum ETF is decided by a vote from the Trading and Markets Division of the U.S. SEC, not by the SEC Chairman and other four commissioners
Media reports that the Trading and Markets Division of the U.S. Securities and Exchange Commission (SEC), not the commissioners of the agency, has decided to approve a large number of Ethereum spot ETF forms. In the order approving 19b-4 forms for Ethereum ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Invest, Invesco Galaxy and Franklin Templeton, a final line reveals how this decision was made. The order states: "The committee will execute according to authorization by Trade and Market Department." This means that it is SEC's Trading and Markets Division rather than SEC Chairman Gary Gensler or other four members who have approved the Ethereum spot ETFs.
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