07:17 AM EDT, 06/27/2024 (MT Newswires) -- The US Securities and Exchange Commission could approve spot ether (ETH) exchange-traded funds as soon as next Thursday, Reuters reported, citing unnamed industry executives and other participants.

Eight asset managers, including BlackRock ( BLK ) , VanEck, Franklin Templeton (BEN), and Grayscale Investments, are seeking SEC approval for the ether ETFs. Grayscale aims to convert an existing trust into an ether ETF.

Executives from two firms said that the process of amending offering documents has progressed to resolving only "minor" issues, the report said. An unnamed lawyer involved in the discussions also said that the approval is "probably not more than a week or two away," according to the report.

The SEC has already approved rule changes for the New York Stock Exchange, Nasdaq, and Cboe to list and oversee trading of ether ETFs, meaning they could begin trading within 24 hours once the SEC finalizes the filings.

Reuters said the SEC declined to comment. SEC Chair Gary Gensler said earlier this month that the launch date depended partly on how quickly issuers respond to the SEC's queries, Reuters reported.

The SEC did not immediately respond to an MT Newswires request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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