During the last week of May 2024, the SEC approved the exchanges request to list a number of spots for Ethereum exchange-traded funds (ETFs) for the first time. They will be joining the Bitcoin spot ETFs and the future trading funds of Ethereum and Bitcoin that are already in the marketplace. The SEC has brought enforcement actions against digital asset exchanges for operating unregistered securities exchanges on the basis that certain digital assets traded on their platforms are securities. 

In this article, Audit Analytics takes a closer look at SEC concerns, historical rejections, and the ongoing battle between the SEC and Congress.