The US Securities and Exchange Commission (SEC) is reviewing an application for a spot Ether exchange-traded fund (ETF) from asset management firm ProShares, just three weeks after the regulator approved 8 similar product.
According to a recent filing, the New York Stock Exchange (NYSE) Arca has proposed rule changes for the listing and trading of shares of the ProShares Ethereum ETF. The SEC is currently seeking public comment on the application for 21 days after its publication in the Federal Register. The regulator has 45 days to approve, reject or extend the decision deadline for the fund.
The filing comes after the SEC approved 19b-4 filings from eight other spot Ether ETFs for the first time on May 23, with final approval of the S-1 registration statements of the This ETF is required before they officially begin trading.
While the process could take several months, some experts revealed that they expect the Ether ETF to launch in July.
ProShares was one of the first asset managers to receive SEC approval for its Bitcoin futures ETF, ProShares Bitcoin Strategy ETF (BITO), which was listed on NYSE Arca in October 2023.
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