04.04.24

SEC Seeks Public Comment on Spot Ethereum ETFs

by: Jeff Benjamin

The U.S. Securities and Exchange Commission (SEC) has started three-week comment periods on spot Ethereum exchange-traded fund (ETF) applications by Fidelity Investments, Bitwise Asset Management and Grayscale Investments. The agency asked “interested persons" to submit comments regarding a potential rule change that would allow for the ETFs, according to one new and two amended notices on April 2. The notices came after the SEC delayed decisions on applications from BlackRock, Grayscale, Hashdex Asset Management and Ark Invest. As it did in the run up to its approval of spot bitcoin ETFs earlier this year, the agency has noted its concerns about the funds exposing investors to market manipulation and fraud.

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