Crypto News

The US SEC opens comment period on Ethereum ETFs by Grayscale, Fidelity, and Bitwise

The US SEC is now taking comments on Grayscale

The US SEC is now taking comments on Grayscale, Fidelity, and Bitwise’s Ethereum ETF proposals, which want to be listed on the Cboe BZX and NYSE Arca markets.

The agency had already approved Ethereum futures ETFs, which established a precedent for spot market-based ETFs.

Grayscale and NYSE Arca contend that the strong link between the spot and futures markets for Ethereum reduces fraud risk.

They question the SEC’s reasoning for prospective rejections due to regulatory concerns. The SEC also considers ETF management, the process of generating and redeeming shares, and fee structures.

The request for comments is a standard procedure and does not indicate the likelihood of acceptance. The demand for Ethereum ETFs follows the SEC’s approval of Bitcoin ETFs, demonstrating a growing interest in crypto financial products.


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