Welcome to the Tech Mem Right Home for Friday, May 24th, 2024. I'm Brian McCullough

today. Out of nowhere, the SEC has approved Spot ETFs for Ether. Spotify is killing its car thing.

Google's AI overview is giving crazy answers all over the place. But Meta already

wants to charge more for their AI bots and of course the weekend long rate suggestions.

Here's what you miss today in the world of tech. The. Securities and Exchange Commission has in a surprise move approved applications

from the NASDAQ, CBO, and NYSE to list Spot Ether EDFs, potentially paving the way for them to begin trading

later this year, quoting Reuters.

While the ETF issuers also have to get the green light before the products can launch.

Thursday's approval is a major surprise win for those firms and the

cryptocurrency industry, which until Monday had expected the SEC to reject the filings. Nine issuers including Van Eck, Arc Investments, 21 shares, and

Blackrock, hoped to launch ETS tied to the second largest cryptocurrency after the SEC in January, approved Bitcoin EDFs in a watershed moment for the industry.

Thursday was the deadline for the SEC to decide on Van X filing.

Market participants were bracing for the thumbs down because the SEC had not

engaged with them on the applications. But in a surprise move SEC officials on

Monday asked the exchanges to quickly fine-tune the filings, sending the industry

scrambling to complete weeks of work in just days,

sources said.

Raiders could not ascertain why the SEC appeared to have a change of heart.

When asked about the Ether ETS by reporters at an industry event earlier on Thursday,

SEC Chair Gary Gensler, a crypto skeptic, declined to comment.

And SEC spokesperson said in an email announcing the approval that the agency would not comment further.

The exchange applications had sought SEC approval for a rule change required to list new products,

...