Insider News: The U.S. SEC has given "preliminary approval" to at least three ETH ETF issuing companies

According to Reuters, three industry insiders said that the U.S. Securities and Exchange Commission (SEC) has preliminarily approved at least three asset management companies to start trading Ethereum spot ETFs from next Tuesday, while a total of eight asset management companies hope to launch such funds. The sources said that the approval is contingent on applicants submitting final issuance documents to regulators before this weekend. One person said it is expected that all eight companies will launch such funds simultaneously. A spokesperson for the U.S. Securities and Exchange Commission (SEC) stated that the agency does not comment on individual applications.

Industry insiders revealed that applications from eight asset management firms including BlackRock, VanEck, and Franklin Templeton are likely to be approved by the SEC on Monday afternoon, July 22nd, with related products expected to begin trading the following day.

Earlier today news came out stating that as soon as US SEC collects final versions of registration statements, Ethereum ETFs will start trading next week.