Spot Ether ETF was approved by the SEC Division of Trading and Markets

The situation surrounding the approval of the spot Ether ETF has been highly questioned in recent hours this because they were approved by the SEC's Division of Trading and Markets but Gary Gensler did not vote in favor of them, which has created some controversy.

According to information disclosed by Prashant Jha in the news portal Cointelegraph, "Unlike the spot Bitcoin ETFs, which were approved by a vote of a five-member committee, including SEC chief Gary Gensler, the spot Ether ETFs were approved by the SEC's Division of Trading and Markets."

In Jha's words, "The U.S. Securities and Exchange Commission (SEC) approved the spot Ether exchange-traded funds (ETFs) on May 23, but the approval process was slightly different from that of the spot Bitcoin ETFs in January."

One fact to note is that, "Unlike the spot Bitcoin ETFs approved by a vote of a five-member committee that included SEC chief Gary Gensler, the spot Ether ETFs were approved by the SEC's Division of Trading and Markets."

It has been mentioned that, "While many in the cryptocurrency community were curious about the difference in the approval process for the two cryptocurrency ETFs, Bloomberg ETF analyst James Seyffart said it was normal"

Cointelegraph. Spot Ether ETFs approved, but Gary Gensler didn’t vote for them — Here’s why. Link

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph