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The U.S. Securities and Exchange Commission is soliciting public comment on three proposals. Ethereum Exchange Traded Funds (ETFs) – This is the latest action from regulators on the highly anticipated investment product.
Wall Street’s top regulator said Tuesday that Grayscale Investments, Fidelity and Bitwise now have a three-week comment period after a series of delays in decision-making on an Ethereum spot ETF.
This is a standard part of the process for fund managers seeking SEC approval for ETFs, and the same thing happened with the spot Bitcoin ETF application. American citizens and organizations sent letters to the SEC. speak out Each person’s opinion on the proposed investment product.
All three fund managers have proposed spot ETH ETFs to regulators. The idea is that they hold ETH and sell stocks that track the price of the asset.
Last January, the SEC Approved 11 digits Bitcoin (BTC) ETF, allowing the deal after 10 years of refusal. Investment vehicles are now traded on stock exchanges, giving traditional investors the ability to purchase stocks that track cryptocurrency prices.
And it gained immense popularity with a huge influx.
Many of the same fund managers working on it now It would need approval from regulators to do the same for ETH, the second-largest digital coin by market capitalization.
British multinational bank Standard Chartered said A January report predicted that the ETH ETF would receive SEC approval by the May deadline.
However, industry analysts have since said It was assumed that regulators were unlikely to approve the product and that any delay putting space between Bitcoin and Ethereum spot ETFs would be a good thing.
that much ETH price It’s currently slightly lower at $3,314 per CoinGecko data. Unlike BTC, it is still far from its 2021 all-time high of $4,878.
Edited by Ryan Ozawa.
