SEC Wants Community to Comment on 3 Ethereum ETFs


Amid the uncertainty over the approval or rejection of ether (ETH) exchange-traded funds (ETFs), the United States Securities and Exchange Commission opened a window for the community to express their opinions on 3 of these financial products.

As part of the evaluation process, the SEC notified that the applications of the companies Grayscale, Fidelity and Bitwise to launch an ETF of ether, the Ethereum cryptocurrency, are now subject to public comments on the securities regulator’s website.

The period for US individuals and organizations to submit comments about ether ETFs, It will last for about three weeks. Thus, they have until the end of April to comment on these investment vehicles.

Overall, the SEC’s request is related to proposed rule changes, which would allow two stock exchanges, Cboe BZX and NYSE Arca, to trade the shares of Grayscale, Fidelity and Bitwise exchange-traded funds.

Investors can submit their comments for a period of three weeks. Source: SEC.

The request for comments from the SEC is quite common, as it is part of the process of reviewing and analyzing proposals like these, which involves offering traditional investors a way to expand their exposure to cryptocurrencies.

What’s more, this comment period was also opened during the review process of the bitcoin ETF (BTC) application, which were finally authorized on January 10.

Nevertheless, approval of Ethereum ETFs still uncertain, with mostly unfavorable indications from specialists in the field. In fact, the organization has decided to delay its decision on the issuance of these financial assets several times.

As CriptoNoticias reported in March, the SEC postponed the decision on the requests from Fidelity and BlackRock (the largest asset manager in the world). It was due to the opening of comment and rebuttal periods.

These lapses extend by more than a month the wait for the verdict that the body must give on the approval or rejection of the ether ETFs of these companies. The SEC is expected to decide on the petitions in the end of May and the first days of June.

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