ME News reports that on May 25 (UTC+8), according to comprehensive disclosures from BBX Crypto-related Stock Information, the global crypto asset market witnessed a historic turning point in U.S. regulatory oversight this weekend. With the U.S. Securities and Exchange Commission (SEC) officially approving key documents for multiple spot Ethereum ETFs and significant progress made on comprehensive crypto regulation legislation, crypto-related stocks and underlying assets have officially entered a new era of multi-asset, fully compliant operations.
[Key Updates]
- Historic Approval of Ethereum ETFs: The U.S. Securities and Exchange Commission (SEC) formally approved the 19b-4 (exchange rule change) filings for eight spot Ethereum ETFs yesterday. The iShares Ethereum Trust, managed by BlackRock, Inc. (NYSE: $BLK), was the first to receive approval, marking the official entry of the world’s second-largest cryptocurrency into the traditional Wall Street financial system following Bitcoin.
- 托管基础设施寡头垄断： Among the eight ETF issuers approved in this round, Coinbase Global, Inc. (NASDAQ: $COIN) has been designated as the underlying spot asset custodian for the vast majority, including BlackRock, Grayscale, and Bitwise. This further solidifies its irreplaceable position as the dominant oligopoly in U.S. institutional-grade digital asset infrastructure.
- Traditional asset managers fully enter the space: Franklin Resources, Inc. (NYSE: $BEN) and Invesco Ltd. (NYSE: $IVZ), among other established asset management giants, are included in this first wave of approved Ethereum ETF applications. This signals that traditional financial institutions' crypto asset allocation strategies are expanding comprehensively from single-purpose “digital gold (BTC)” to yield-generating “application-layer blockchains (ETH).”
Legislative breakthrough releases benefits: The Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House by a decisive vote of 279 to 136. This is the first bill in U.S. congressional history to establish a comprehensive regulatory framework for the digital asset market structure, providing clear legal certainty for crypto companies long hindered by uncertainty over their securities classification. (Source: BBX)
