The Trading and Markets Division of the Securities Exchange Commission, rather than the agency's commissioners, decided to approve forms for a large number of Ethereum spot ETFs. In the order to approve the Ethereum ETF 19b-4 forms of BlackRock, Fidelity, Grey Release, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton, there is a line at the end that reveals how the decision was made.
The order reads: The Commission will be mandated by the Trading and Markets Division. This means that the Trading and Markets Division of the Securities Exchange Commission, not Securities Exchange Commission Chairperson Gary Gensler or four other commissioners, made the decision to approve the spot Ethereum ETF.
The approval of the spot Ethereum ETF was decided by a vote of the SEC's Trading and Markets Division, rather than by the SEC chairperson and four other commissioners
2024-05-24 00:08:04
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