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SEC Calls for Comments on Three Spot ETH ETF Proposals

SEC opens 21-day window for comments on spot Ethereum ETF proposals by Grayscale Investments, Fidelity, and Bitwise. Push for approval follows greenlighting of Bitcoin ETFs.

  • SEC opens 21-day comment window for spot Ethereum ETF proposals by Grayscale, Fidelity, and Bitwise.
  • SEC's previous delays on Ethereum ETF decisions contrast with January's greenlighting of Bitcoin ETFs.

The U.S. Securities and Exchange Commission (SEC) has opened a 21-day comment window for the spot Ethereum exchange traded fund (ETF) proposals by Grayscale Investments, Fidelity, and Bitwise.

It's a routine step for fund managers pursuing SEC approval for an ETF. Similar to spot Bitcoin ETF applications, U.S. citizens and entities expressed their views to the SEC regarding the proposed investment products.

After the SEC greenlit 11 Bitcoin ETFs in January, leading to significant inflows and popularity, there's now a push to obtain similar regulatory approvals for Ethereum-based products.

Previously, the SEC has delayed Ethereum ETF decisions multiple times. On March 20, the regulator postponed decision on spot Ethereum ETF applications from Hashdex and Ark 21Shares until late May, with expectations for the VanEck spot ETH ETF decision on May 23.

Last month, Fox Business reporter Eleanor Terrett also commented on the matter in one of her posts on X (formerly Twitter).

“I’m told that @GaryGensler believes he already placated the industry with the approval of the $BTC spot ETFs. Also, influential anti-crypto politicians like @SenWarren are already angry at the SEC for approving the $BTC ETFs in the first place and are rallying against the same thing happening for $ETH,” wrote Terrett.

Furthermore, SEC Chair Gary Gensler remarked in January that the approval of Bitcoin should not imply anything regarding the commission's stance on the regulatory status of other cryptocurrencies under federal securities laws.

Edited by Harshajit Sarmah