The US Securities and Exchange Commission (SEC) has formally given the green light to several ETF issuers' S-1 applications, paving the way for the commencement of trading in physical Ethereum ETFs. This approval is anticipated to come into effect on Wednesday local time. This decision represents a major milestone for the crypto market, as it is the first time an ETF based on physical Ethereum has been approved, offering investors a fresh means to directly invest in Ethereum. Upon the release of ETFs, it is expected that this will draw more institutional and retail investors into the Ethereum market, consequently boosting the asset's liquidity.