SEC Considers ProShares' Spot Ethereum ETF Application
In a document dated June 10, the U.S. Securities and Exchange Commission (SEC) stated that the New York Stock Exchange (NYSE) Arca has proposed a rule change to allow it to list and trade ProShares Ethereum ETF shares. The SEC said it will seek public comments on this ETF application within 21 days after its publication in the Federal Register, giving the SEC 45 days to approve, reject or extend its decision timetable. On May 23, the U.S. Securities and Exchange Commission officially approved the 19b-4 applications submitted by eight asset management companies for their first listing and trading of spot Ethereum ETFs on US exchanges. Final approval requires an S-1 registration statement signed by SEC for spot ETH ETF before official trading can begin - a process that could take several months but some experts predict will be completed sometime in July.
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