Key Takeaways:
- ProShares has applied to the SEC for a spot Ether (ETH) ETF, following similar applications approved for eight other firms.
- The SEC is seeking public comments for 21 days and will decide within 45 days on the proposed rule change by NYSE Arca to list and trade shares of this ETF.
- ProShares previously received SEC approval for an ETH futures-linked investment vehicle and currently offers a Bitcoin Strategy ETF.
The SEC has received an application from ProShares for a spot Ether (ETH) exchange-traded fund (ETF), following approvals for similar applications from eight other firms three weeks prior.
The New York Stock Exchange (NYSE) Arca proposed a rule change to list and trade shares of this ETF.
SEC just added the ProShares' Ethereum ETF Filing to its website. (That is extremely quick) Instinct initially says this wont launch on day 1 with the other ETFs whenever that is but who knows. This is interesting. https://t.co/VU0bYo3Gjr pic.twitter.com/npZYnljBmY
— James Seyffart (@JSeyff) June 10, 2024
The SEC is now seeking public comments for 21 days and has 45 days to make a decision.
Previously, the SEC approved filings from eight firms to list and trade spot Ether ETFs, though these ETFs can’t start trading until their S-1 registration statements are approved, which may take until July.
SEC considers spot ETH ETF application from ProShares 👀 pic.twitter.com/uAd0QTmM6W
— Crypto Crib (@Crypto_Crib_) June 11, 2024
ProShares had already received SEC approval in October 2023 for an ETH futures-linked investment vehicle and offers a Bitcoin Strategy ETF.
It’s uncertain if the SEC will approve ProShares’ spot Ether ETF, as the current filing only shows consideration of the application.
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