According to Wu, the U.S. Securities and Exchange Commission (SEC) stated in the document that the New York Stock Exchange (NYSE) Arca proposed a rule change to allow it to list and trade shares of the ProShares Ethereum ETF. The SEC will solicit public comments on the ETF application within 21 days of publication in the Federal Register, giving the SEC 45 days to approve, reject or extend the timeline for its decision. Previously, the SEC had formally approved the 19b-4 applications submitted by eight asset management companies, and the final approval required the SEC to sign the S-1 registration statement for the spot ETH ETF.