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Sources say US SEC requests exchanges to make adjustments to ether ETF filings, indicating a positive step towards approval.

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In a surprising turn of events, the U.S. securities regulator has asked Nasdaq and CBOE to fine-tune their applications to list spot ether exchange-traded-funds (ETFs), hinting at a possible approval, according to three sources familiar with the process.

The cryptocurrency industry had been bracing for a rejection, but the news of potential approval sent the price of ether soaring by as much as 18% on Monday, with a further 2.5% increase to $3,764 early Tuesday morning.

The SEC must make a decision on the applications filed by CBOE to list ether ETFs provided by VanEck and ARK Investments/21Shares by the end of the week. The unexpected request for updates and changes to the filings from the SEC officials has raised hopes for a positive outcome.

While spokespeople for the SEC and CBOE declined to comment, the industry is eagerly awaiting further developments. Nasdaq and ARK did not respond to requests for comment, and it remains unclear if NYSE Arca, the third exchange involved, has also been contacted by the SEC.

Approval of the ETFs would require a rule change and registration statement approval from the SEC before trading can commence. Although there is no set timeframe for the SEC to make a decision on the registration statements, the industry is optimistic about the potential for ether ETFs to hit the market in the coming months.

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