SEC considers spot Ether ETF application from ProShares
The commission approved 19b-4 filings from eight asset managers in May, but they won’t begin trading on U.S. exchanges until the SEC signs off on the S-1 registration statements.
The United States Securities and Exchange Commission (SEC) has added a spot Ether (ETH) exchange-traded fund application from asset manager ProShares roughly three weeks after approving eight of the investment vehicles.
In a June 10 filing, the SEC said the New York Stock Exchange (NYSE) Arca had proposed a rule change allowing it to list and trade shares of the ProShares Ethereum ETF. The commission said it was soliciting public comments on the ETF application for 21 days after publication in the Federal Register, giving the SEC 45 days to approve, disapprove, or extend the timeline for its decision.
On May 23, the SEC officially approved 19b-4 filings from eight asset management firms that applied to list and trade spot Ether ETFs on U.S. exchanges for the first time. Final approval requires the SEC to sign off on S-1 registration statements for the spot Ether ETFs before they can officially begin trading — a process that could take months, but some experts expect to go through sometime in July.
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Author: Turner Wright
