The US Securities and Exchange Commission (SEC) is reviewing a proposed rule change from ProShares to list a spot Ether ETF on the New York Stock Exchange (NYSE). This follows ProShares’ application on June 6.
The SEC has 45 days to make a decision, with the public granted 21 days to submit comments. A final decision on the ETF’s approval is expected by late July 2024.
“This is interesting,” said Bloomberg Intelligence ETF analyst James Seyffart, hinting that ProShares’ ETF might not launch alongside others approved earlier.
This development comes after the SEC approved spot Ether ETF filings from eight asset managers in May, paving the way for the first-ever such ETFs in the US. However, final approval for these ETFs requires separate registration statements, potentially delaying their launch.
In related news, the SEC also approved a change to 21Shares’ spot Ether ETF application on June 10. This allows them to proceed without Ark Invest, who announced their withdrawal from the project on May 31. No reason was given for Ark’s departure, but they remain involved in their spot Bitcoin ETF (ARKB). The SEC expedited the change, waiving the usual waiting period.
