Filing suggests SEC is exploring grounds to deny spot Ether ETFs
A March 4 filing for BlackRock’s spot Ether ETF called for feedback on whether the investment vehicle could be listed as a commodity.
Analysts have unearthed details from a March filing with the United States Securities and Exchange Commission (SEC) that suggest the regulator may consider labeling Ether (ETH) a security.
In a May 13 X post, Davis Polk and Wardwell Associate Scott Johnsson reviewed a March 4 filing from BlackRock over its application to list and trade a spot Ether exchange-traded fund on the Nasdaq. The filing delayed the deadline for the commission to decide on a spot Ether ETF from BlackRock until June but also called for public feedback on whether the investment vehicle could be filed as a commodity.
“The obvious purpose is to potentially deny on the basis that these spot filings are improperly filed as commodity-based trust shares and do not qualify if they are holding a security,” said Johnsson.
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Author: Turner Wright
