The U.S. Securities and Exchange Commission (SEC) approved key documents yesterday related to Ethereum ETFs, the second-largest cryptocurrency. This decision not only solidifies Ethereum’s legitimacy as an asset but also enhances the status, accessibility, and growth potential of the entire digital asset ecosystem, commented Richard Teng, CEO of Binance, the world’s largest cryptocurrency exchange by trading volume (approximately 50% of the market).
Although yesterday’s decision does not yet mean final approval for trading Ethereum ETFs in the U.S., it is a significant step forward. Analysts predict that a final decision could be made within a few weeks. If the SEC approves the applications, eight spot Ethereum ETFs will be available on U.S. exchanges.
“This is a pivotal development signaling the growing recognition and broader acceptance of digital assets within traditional frameworks, particularly in such influential markets as the United States,” said Richard Teng.
The Binance CEO also noted that prior to yesterday’s decision, there were already 27 active Ethereum ETFs listed across seven markets. Additionally, there are 32 spot Bitcoin ETFs offered and listed across five different geographical markets.
“Investments in Ethereum Spot ETFs are likely to be steady, stable, and not too volatile. This was the case with U.S. Bitcoin Spot ETFs, which saw over $13.3 billion in inflows within the first five months, and we can expect a similar trajectory in this instance,” said Richard Teng.
According to the Binance CEO, this latest step forward will lead to further regulatory acceptance, paving the way for broader adoption of digital assets worldwide — be it ETH, BTC, or others.
