• ETH ETF approvals are now closer than ever following the SEC’s acknowledgement of recent applications.
• ETH started to see a resurgence in demand after dipping below $1,600.

ETFs have been a major topic of discussion for the last few months and have mostly revolved around Bitcoin [BTC]. This time, Ethereum [ETH] is the subject of the latest ETF-related development.

How many are 1,10,100 ETHs worth today?

The SEC has reportedly acknowledged review of two ETF applications pertaining to Ethereum. The ETF applications in question were filed by Ark Invest and VanEck.

The acknowledgement might not necessarily be an approval, but it highlights a positive step forward as opposed to a rejection from the regulatory authority.

TRENDING: SEC Acknowledges Review of Two Spot #Ethereum ETF Applications pic.twitter.com/HYf1jbY2VN

— LunarCrush Social Trends (@LunarCrush) September 22, 2023

The above outcome means there is a considerable chance that the two ETH ETF filings might receive approval sometime soon. There will be a 45-day period, during which members of the public will be allowed to issue their opinions regarding the ETFs.

While this does not constitute confirmation that the ETFs will b

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Author: Michael Nderitu

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