The Securities and Exchange Commission is close to approving exchange-traded funds tied to the spot price of Ethereum (CRYPTO: ETH). Talks between asset managers and regulators are wrapping up, with potential listings as soon as July 4. Eight asset managers, including BlackRock, VanEck, and Grayscale Investments, are seeking approval for these funds. The launch of Bitcoin ETFs in January was a success, attracting $8 billion in assets, with nearly $38 billion in assets as of late June. However, some analysts believe the new spot ether ETFs may not be as impressive due to ether’s smaller market cap. SEC Chair Gary Gensler highlighted progress in ETF filings, with the final decision resting on asset managers making full disclosures. There is speculation that the launch could lead to a 30% drop in Ether’s price. At the time of writing, Ether was trading at $3,377.13. Congressman Matt Gaetz has introduced a bill to allow federal tax payments in Bitcoin.