• April 23, 2024

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SEC Opens Comments Period on Spot Ethereum ETFs

ByLouis Adams

Apr 4, 2024 #Ether
Reading time: < 1 minute

The US Securities and Exchange Commission (SEC) has started accepting public comments on three proposed exchange-traded funds (ETFs) tied to the cryptocurrency Ether.

The ETF proposals submitted by Grayscale InvestmentsFidelity and Bitwise will undergo a three-week comment period, as stated in notices published by the agency on Tuesday.

This move comes after the SEC’s approval of Bitcoin ETFs in January sparked optimism that similar ETFs for Ethereum (ETH) could also be approved.

However, industry experts have grown less hopeful as the SEC has been under increasing pressure to differentiate between tokens and classify each separately.

In a recent court dispute with Grayscale, the SEC reversed its position on Bitcoin ETFs and approved them, leading many to believe that ETFs for other tokens such as ETH may also be approved in the future.