SEC rally in Ether

Expectations regarding the regulatory investigation in Ether, the crypto asset whose ETFs were approved after Bitcoin, have now created a positive atmosphere.

Ether experienced the fastest rise of the week, driven by expectations that the investigation launched by the US regulatory agency Securities and Exchange Board (SEC) into the blockchain ecosystem may ease. The rise in Ether approached 4 percent in the middle of the week.

Consensys, the developer of Ethereum, said in a statement from its X account: “The relevant unit of the SEC informed us that it has closed its investigation regarding Ethereum 2.0.”

“This decision follows a letter we sent to the SEC on June 7 asking it to confirm that the May ETH ETF approvals, based on ETH being a commodity, mean the agency will close its Ethereum 2.0 investigation,” Consensys added.

Consensys filed a lawsuit against the SEC in April to close the Ethereum investigation.

The SEC approved Ether ETFs last month. However, BlackRock Inc. It was stated that more approvals were needed before applicants such as Fidelity Investments and Fidelity Investments could launch such products on the market.