The US Securities and Exchange Commission (SEC) announced on May 23 that it approved the launch of eight spot Ether ETFs on an accelerated basis, marking another major milestone in the cryptocurrency industry. While the deadline for the decision only applied to the VanEck Ethereum Trust, the SEC also approved the Grayscale Ethereum Trust, the Bitwise Ethereum ETF, the iShares Ethereum Trust, the ARK 21Shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund and the Franklin Ethereum ETF. The ETFs are expected to generate Ether inflows upward of US$15 billion in the first 12 months. The news has already led to a surge in the price of Ether, which was around the US$3,850 mark at 6:00 p.m. EDT. This move comes one day after the US House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, the first major crypto bill to make…
