The Securities and Exchange Commission (SEC) has given the green light for the first exchange-traded funds (ETFs) that directly invest in Ethereum.

Despite this, Ethereum spot ETFs could take months to officially debut. The U.S. Securities and Exchange Commission (SEC) has given the green light for the first exchange-traded funds (ETFs) that directly invest in the cryptocurrency Ether from the Ethereum protocol. The agency approved the 19b-4 filings from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton.

However, Ethereum spot ETFs could take months to officially debut, as the ETF sponsors have not yet received the S-1 registration. This is a significant difference compared to the process of Bitcoin ETFs, which began trading the day after receiving SEC approval.

Ethereum has faced more scrutiny as a potential security compared to Bitcoin, and the SEC has been somewhat constrained by Congress and major funds. There has been significant pressure for this decision to happen.

The SEC may eventually continue its campaign against Ethereum, particularly regarding staking. It’s worth noting that the Ethereum network operates on a “Proof of Stake” consensus mechanism, where ETH holders can stake their tokens to secure the network and earn rewards.

Drawing a parallel to Bitcoin’s history, when the Bitcoin ETF was approved, its price stood at $47,000. Subsequently, it dipped to $40,000 within the next 20 days before rebounding sharply to $73,000. This represented nearly a 100% increase within a month and a half. Similarly, Ethereum might undergo a similar trajectory with this news, potentially retracing to $3,000 before aiming to reclaim its previous peak or even surpass it.