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U.S. SEC CALLS FOR COMMENTS ON SPOT ETH ETFS


U.S. SEC CALLS FOR COMMENTS ON SPOT ETH ETFS


U.S. SEC CALLS FOR COMMENTS ON SPOT ETH ETFS


THE SECURITIES AND EXCHANGE COMMISSION HAS OPENED UP COMMENT PERIODS FOR ETF
APPLICATIONS FOR GRAYSCALE, FIDELITY AND BITWISE.


THE SECURITIES AND EXCHANGE COMMISSION HAS OPENED UP COMMENT PERIODS FOR ETF
APPLICATIONS FOR GRAYSCALE, FIDELITY AND BITWISE.


THE SECURITIES AND EXCHANGE COMMISSION HAS OPENED UP COMMENT PERIODS FOR ETF
APPLICATIONS FOR GRAYSCALE, FIDELITY AND BITWISE.

By Jesse Hamilton
Apr 3, 2024, 3:48 PM
Updated Apr 3, 2024, 3:55 PM
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Chair Gary Gensler's U.S. Securities and Exchange Commission is inviting
comments on certain ether ETF proposals. (Jesse Hamilton/CoinDesk)

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The U.S. Securities and Exchange Commission has opened the window for comments
on three ether spot exchange traded fund (ETF) proposals.

The ETF efforts tied to Grayscale Investments, Fidelity and Bitwise will be
subjected to a three-week comment period, according to notices posted Tuesday by
the agency "to solicit comments on the proposed rule change from interested
persons."





Despite rising hopes after the agency's approval of bitcoin spot ETFs in
January, industry analysts have become less optimistic that the regulator will
follow suit with the products tracking Ethereum's (ETH). The commission had been
pressured into abandoning its earlier opposition of the bitcoin applications
after a key loss in a court dispute with Grayscale, and SEC officials had argued
that their resulting approval of bitcoin ETFs doesn't apply to other tokens.



Read More: Ether Tumbles 6% as ETH ETF Hopes Dim Amid Regulatory Probe Reports

SEC Chair Gary Gensler had said in January that the bitcoin approval shouldn't
"signal anything about the commission’s views as to the status of other crypto
assets under the federal securities laws."

The arrival of the stable of (BTC) ETFs dramatically amplified investments in
that token. A similar outcome could be expected for ETH if the agency ever
arrives at similar approvals. However, the SEC has reportedly been probing
whether ETH should be classified as a security, which would put it on a
different legal footing than bitcoin.

STORY CONTINUES BELOW

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May 23 is the deadline for the SEC to make final decisions on some of the ETF
applications.

Edited by Nikhilesh De.


Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my
personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency
industry. Its journalists abide by a strict set of editorial policies. In
November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a
regulated, digital assets exchange. The Bullish group is majority-owned by
Block.one; both companies have interests in a variety of blockchain and digital
asset businesses and significant holdings of digital assets, including bitcoin.
CoinDesk operates as an independent subsidiary with an editorial committee to
protect journalistic independence. CoinDesk employees, including journalists,
may receive options in the Bullish group as part of their compensation.

Jesse Hamilton

Jesse Hamilton is CoinDesk's deputy managing editor for global policy and
regulation. He doesn't hold any crypto.

Follow @jesseahamilton on Twitter

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READ MORE ABOUT

Regulationsether ETFGrayscaleFidelityBitwiseETHBitcoin ETFSecurities and
Exchange Commission


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Please note that our privacy policy, terms of use, cookies, and do not sell my
personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency
industry. Its journalists abide by a strict set of editorial policies. In
November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a
regulated, digital assets exchange. The Bullish group is majority-owned by
Block.one; both companies have interests in a variety of blockchain and digital
asset businesses and significant holdings of digital assets, including bitcoin.
CoinDesk operates as an independent subsidiary with an editorial committee to
protect journalistic independence. CoinDesk employees, including journalists,
may receive options in the Bullish group as part of their compensation.

@2024 CoinDesk

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