SEC Clears Path for Spot Ether ETFs; Coinbase Dominates Custody; FIT21 Advances in House

ME News reported that as of May 25 (UTC+8), disclosures compiled by BBX Cryptorelated Stock Information point to a watershed moment for U.S. crypto oversight. The U.S. Securities and Exchange Commission (SEC) has signed off on key filings for multiple spot Ethereum ETF products, while Congress has pushed forward a sweeping market-structure bill. Together, the moves underscore a shift toward broader, multi-asset participation under a more clearly defined compliance regime. SEC approves 19b-4 filings for eight spot Ether ETFs The SEC formally approved the 19b-4 exchange rule-change filings for eight spot Ethereum ETFs. BlackRock's iShares Ethereum Trust (BlackRock, Inc., NYSE: $BLK) was the first to receive approval, positioning Ether—the world's second-largest cryptocurrency—to further integrate into mainstream Wall Street products following the launch of spot Bitcoin ETFs. Coinbase anchors custody for most issuers Across the newly approved issuers, Coinbase Global, Inc. (NASDAQ: $COIN) has been named spot-asset custodian for the majority of products, including those from BlackRock, Grayscale, and Bitwise. The appointments reinforce Coinbase's central role in U.S. institutional-grade digital-asset infrastructure. Traditional asset managers broaden crypto exposure beyond BTC Franklin Resources, Inc. (NYSE: $BEN) and Invesco Ltd. (NYSE: $IVZ) are among the established asset-management firms included in the first wave of approved Ethereum ETF applications, signaling a broader expansion from single-theme "digital gold" Bitcoin exposure to Ether-linked allocation tied to application-layer blockchain activity. FIT21 passes the House In Washington, the Financial Innovation and Technology for the 21st Century Act (FIT21) passed the U.S. House of Representatives by 279–136. The bill is described as the first in U.S. congressional history to outline a comprehensive framework for digital-asset market structure, aiming to provide greater legal certainty for crypto firms that have faced prolonged ambiguity around securities classification. Source: BBX