Cathie Wood's Ark Investments in conjunction with 21Shares, has just filed an application for an Ethereum spot ETF. (Ark Investments also has a pending application for a Bitcoin spot ETF).
There is already a futures-based Ethereum ETF application pending, which is expected to get approval by the end of October, especially as futures-based bitcoin ETFs have already been approved.
The markets didn't really react to the news - the feeling is that decisions on all the spot ETFs will get deferred till after the Presidential election.
Still, this is exciting news for altcoins. If the Ethereum spot ETF gets approved, it opens the door for other altcoin ETFs. There is no reason that they couldn't set up a "Top 100 altcoins" ETF for example. Hive could even be included if it somehow managed to get into the top 100!
It would also really help if crypto ETFs were approved in Canada, the UK and other countries. Given that crypto is meant to be global, it's unhealthy that it's got into the position of being dependent on the whims of a single man, Gary Gensler.