Ethereum

Cryptocurrency

Read

<ul>
 <li>SEC reviews ProShares’ spot Ethereum ETF application for NYSE listing, with a 45-day decision timeline.</li>
 <li>Public has 21 days to comment on ProShares’ Ethereum ETF proposal to the SEC.</li>
 <li>Ark Invest and 21Shares split; 21Shares continues independently on the Ethereum ETF.</li>
</ul>
<p><a href="https://www.proshares.com/" target="_blank" rel="noopener noreferrer nofollow">ProShares</a> recently submitted a spot Ethereum exchange-traded fund (ETF) application to the US Securities and Exchange Commission (SEC). This follows ProShares’ June 6 proposal to list and trade spot Ethereum ETF shares on the New York Stock Exchange (NYSE).</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">【SEC considers spot Ether ETF application from ProShares】<br><br>The commission approved 19b-4 filings from eight asset managers in May, but they won’t begin trading on U.S. exchanges until the SEC signs off on the S-1 registration statements.<br><br>The commission said it was soliciting… <a href="https://t.co/fc0hLUoH6B" rel="noopener noreferrer nofollow">pic.twitter.com/fc0hLUoH6B</a></p>— Meta Era (@MetaEra_Media) <a href="https://twitter.com/MetaEra_Media/status/1800367318570311889?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The SEC acknowledged NYSE Arca’s proposed rule <a href="https://www.nyse.com/regulation/rule-filings" target="_blank" rel="noopener noreferrer nofollow">change</a> to allow for this listing in a follow-up filing dated June 10. There is now a 21-day window for the public to submit feedback on the application. The SEC will have 45 days after public participation to decide, possibly by the end of July 2024.</p>
<p>The SEC’s acknowledgement marks the start of the review process which is not the same as approval. ProShares’ debut in the spot Ethereum ETF market is in line with the approval of multiple other prospective issuers’ 19b-4 filings in May 2024.</p>
<p>The withdrawal of Ark Invest and 21Shares from a <a href="https://cryptonewsland.com/ark-invest-and-21shares-part-way-on-the-ethereum-etf-project/" target="_blank" rel="noopener noreferrer nofollow">joint ETF application</a> was recently approved by the SEC. With this approval, 21Shares can move forward on its own and the standard 30-day delay has been waived, allowing the change to take effect immediately. This decision was made because it was determined that it will not have a major effect on investor protection or competition.</p>
<p>Despite these occurrences, the S-1 filings that potential issuers of spot Ethereum ETFs submitted on May 31 are still <a href="https://cryptonewsland.com/secs-last-minute-eth-etf-amendments-will-market-reaction-spell-bull-or-bear/" target="_blank" rel="noopener noreferrer nofollow">waiting for feedback</a>. At least two issuers have yet to receive the SEC’s comments, which were initially anticipated to be received by June 7. The 19b-4 filing and the S-1 filing, which are currently being reviewed, are two crucial steps in the approval process for these ETFs.</p>
<p>Significant developments in the crypto ETF sector include the approval of Ark Invest’s separation from 21Shares and the acknowledgment of ProShares’ spot Ethereum ETF application. These developments demonstrate the growing acceptance by regulators as well as the possibility of market growth. The SEC’s decision in the days to come will have a significant bearing on Ethereum ETFs’ future and how they affect the larger financial market.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/proshares-to-launch-first-us-short-btc-linked-etf/" rel="noopener noreferrer nofollow">ProShares To Launch First US Short BTC-Linked ETF</a></li>
 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-part-way-on-the-ethereum-etf-project/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Part Way on the Ethereum ETF Project</a></li>
 <li><a href="https://cryptonewsland.com/cathie-woods-ark-invest-buys-and-sells-bitcoin-etfs/" rel="noopener noreferrer nofollow">Cathie Wood’s ARK Invest Buys and Sells Bitcoin ETFs</a></li>
 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-remove-staking-from-spot-ether-etf-proposal/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Remove Staking from Spot Ether ETF Proposal</a></li>
 <li><a href="https://cryptonewsland.com/reviewing-the-top-8-important-crypto-events-in-2022/" rel="noopener noreferrer nofollow">Reviewing the Top 8 Important Crypto Events in 2022</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/sec-reviews-proshares-ethereum-etf-whats-next-for-cryptocurrency-investment-landscape/" rel="noopener noreferrer nofollow">SEC Reviews ProShares Ethereum ETF: What’s Next for Cryptocurrency Investment Landscape?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

SEC Reviews ProShares Ethereum ETF: What’s Next for Cryptocurrency Investment Landscape?

Crypto News Land

Other articles published on Jun 11, 2024

Bitcoin Could Rally Post-FOMC Meeting as Fed Faces Rate Cut Calls

Meter Network Announces a Major 40% of Total $MTRG Supply Burn

Crypto.com Registered As Virtual Assets Service Provider In Ireland

Oracle to Report Quarterly Results After Market Close, All Eyes on AI

Elon Musk Bans Apple Devices Over ChatGPT Integration!

How Unisat’s PIZZA airdrop skyrocketed its on-chain activity

Join our free newsletter for daily crypto updates!