The United States Securities and Exchange Commission (SEC) approved two spot Ethereum exchange-traded funds (ETFs) Grayscale Ethereum Mini Trust and ProShares Ethereum ETF for listing on the New York Stock Exchanges (NYSEs) Arca electronic trading platform, according to a July 17filing.

The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs respective S-1 filings before the spot products can actually commence with listing.

Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trusts (proposed ticker: ETH) Form 19b-4, a Grayscale spokesperson said in a statement. The Grayscale team continues to engage constructively with SEC staff as we seek full regulatory approval for US spot Ethereum ETPs.

Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that the crypto investment manager is preparing to list. In May, Grayscale received SEC approval after filing a Form 19b-4 to convert its legacy spot ETH fund, Grayscale Ethereum Trust (ETHE), into an exchange traded fund.

On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust was first launched in 2017 and was among the first institutional investment vehicles for spot Ethereum.

The SEC reportedly gave preliminary approval to at least three issuers to begin listing spot Ether ETFs as soon as July 23. A total of eight spot Ether ETFs are awaiting a final regulatory greenlight after weeks of back-and-forth dialogues with the SEC and multiple amendments to the funds' S-1 filings.

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The ProShares Ethereum ETF has been a relative latecomer in the race, filing its Form 19b-4 roughly three weeks after its peers had already received approval. The ProShares fund is not among the eight expected to be listed next week.

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SEC approves Grayscale, ProShares spot Ethereum ETFs for trading on NYSE Arca - Cointelegraph