US SEC asks exchanges to fine-tune ether ETF filings in positive sign for approval, say sources

Representation of Ethereum, with its native cryptocurrency ether, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -The U.S. securities regulator on Monday asked Nasdaq, CBOE and NYSE to fine-tune their applications to list spot ether exchange-traded-funds (ETFs), signaling the agency may be poised to approve the filings, four people familiar with the process told Reuters.

While the exchange applications are the first step in a two-step approval process, a Securities and Exchange Commission green light would mark a major, and surprising, win for the cryptocurrency industry that had been expecting the thumbs-down.