SEC Requests Public Comment on Grayscale, Bitwise, and Fidelity’s Spot Ethereum ETFs

Crypto News– The Securities and Exchange Commission is seeking feedback on several spot ether exchange-traded funds, as per filings.

SEC Requests Public Comment on Grayscale, Bitwise, and Fidelity’s Spot Ethereum ETFs

On Tuesday, the agency requested public input on three ETF proposals: the Fidelity Ethereum Fund, Grayscale Ethereum Trust, and Bitwise Ethereum Trust.

The Commission is issuing this notice to gather comments on the proposed rule change, as amended by Amendment No. 1, from interested parties.

the agency

Comments for all three are required within 21 days.

Hope fades

Optimism surrounding the Securities and Exchange Commission’s (SEC) potential approval for a spot ether exchange-traded fund (ETF) has significantly diminished in recent developments.

Eric Balchunas, an ETF analyst at Bloomberg, has notably revised his earlier estimation regarding the likelihood of a spot Ethereum ETF approval by May. Previously suggesting a probability of approximately 70 percent, Balchunas has now lowered this estimate to a mere 30 percent.

Adding to the sentiment, James Seyffart, also an ETF analyst at Bloomberg, shared his insights on Tuesday regarding Fidelity’s filing.

I’ve been tagged in this tweet and a bunch of others regarding the 19b-4 documents filed for the Ethereum ETFs today. Nothing in the filings signals to me that anything has changed. Nothing in the filings signals to me that anything has changed.

James Seyffart

He further emphasized the significance of the SEC’s silence on the matter, indicating potential concerns among investors and stakeholders.

As regulatory uncertainties persist and anticipation mounts within the crypto community, the outlook for a spot ether ETF approval appears increasingly uncertain, leaving many to ponder the implications of such developments on the broader cryptocurrency market.