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In line with a recent update we covered, Ethereums rapid ascent suggests strong anticipation for a potential Ethereum ETF approval. BlackRock CEO Larry Finks endorsement of an Ethereum ETF highlights its importance in the journey towards tokenization.

Preliminary approval has been deemed for three of the eight asset managers by the SEC, hoping to launch exchange-traded funds tied to the spot price of ether to begin trading next Tuesday. A blockchain expert, Collin Brown, in his tweet today, shared this exciting development, where sources indicate the SEC is poised to approve Ethereum ETFs from BlackRock, VanEck, and Franklin Templeton next week.

In his view, this step could mark a significant milestone for institutional adoption of Ethereum, providing broader access and potentially boosting market liquidity.

According to SEC approval updates shared by Reuters, the approval hinges on applicants submitting final offering documents to regulators before the end of this week, the sources said. One source mentioned that all eight are expected to launch simultaneously.

The three industry sources include BlackRock (BLK.N), VanEck, and Franklin Templeton (BEN.N), among the eight asset managers whose applications are likely to be greenlit by the SEC next Monday afternoon, July 22, with trading in the products expected to begin the next day.

A senior ETF analyst for Bloomberg adds to this development, stating that he believes ETFs are likely to begin trading next Tuesday.

Hearing SEC finally got back to issuers today, asking them to return FINAL S-1s on Wednesday (including fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last-minute issues, of course!

Meanwhile, according to todays CoinMarketCap data, ETH is valued at $3,425.50, with a decrease of 1.67% in the past day and an increase of 11.63% in the past week. See ETH price chart below.

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Ethereum ETFs from BlackRock, VanEck, and Franklin Templeton Poised for SEC Approval on Monday - Crypto News Flash