Summary
The SEC is asking for public comments on three proposed Ethereum ETFs from Grayscale Investments, Fidelity, and Bitwise. This is a standard part of the process for fund managers seeking approval. Approval for Ethereum ETFs is less likely now, but Standard Chartered expected approval by May. The price of ETH is currently around $3,314, below its 2021 all-time high.
Key Points
1. The U.S. Securities and Exchange Commission is seeking public comments on three proposed Ethereum exchange-traded funds (ETFs), including applications from Grayscale Investments, Fidelity, and Bitwise.
2. The SEC has previously approved 11 spot Bitcoin ETFs, allowing them to trade on stock exchanges after a decade of denials, which has been popular among traditional investors.
3. Despite expectations for ETH ETF approval by May, industry analysts now suggest a delay between Bitcoin and Ethereum spot ETFs could be beneficial, with the current price of ETH standing at $3,314.