The U.S. Securities and Exchange Commission approved multiple spot Ethereum ETFs in an ominbus order, confirming a last-minute scramble to get them through.

The SEC approved 19b-4 forms for several ETFs, including those from BlackRock, Fidelity and Grayscale.

While the forms have been approved, the ETF issuers need to have their S-1 registration statements go effective before trading can begin. The SEC has started conversations with issuers about their S-1 forms but only recently. It's unclear how long this process will take but some analysts are speculating that it could take weeks.

“I think that if they work extremely hard it can be done within a couple weeks but there are plenty of examples of this process taking 3+ months historically,” added Bloomberg ETF analyst James Seyffart.

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