Sign Up on MEXC
Highlights
- The SEC has initiated a public comment period for proposed spot Ethereum ETFs.
- The three-week feedback window reflects the SEC's scrutiny of innovative financial products.
- Despite the anticipation, progress on ETF approvals remains sluggish, with little movement on Fidelity and BlackRock applications.
The U.S. Securities and Exchange Commission (SEC) has initiated a public comment period for several proposed spot Ethereum Exchange-Traded Funds (ETFs). The notice focuses on ETFs, including the Fidelity Ethereum Fund, Bitwise Ethereum Fund, and the Grayscale Ethereum Trust.
SEC Seeks Feedback on Ethereum ETF
The SEC has also indicated that it will seek comments on this rule change proposal and specifically referenced the Bitwise filing. The agency gives a three-week deadline for public comments. This move demonstrates that the SEC is interested in continued scrutiny of these new financial products.
The call for public comments comes at a time when the crypto community’s hopes for the approval of spot Ethereum ETFs start to fade away. Time is running out for the decision of the SEC on Fidelity, BlackRock, and seven other firms’ applications, and there has not been much progress.
The market did not take kindly the Ethereum Dencun update on 13th March, aimed at reducing transaction fees, which led to a more than 12% fall in the value of Ether. The approval of spot Ethereum ETFs is anticipated to have a substantial effect, just like the increase in the demand of institutions for the launch of the U.S. spot Bitcoin ETFs.
Yet, SEC’s deferral of the decision on Fidelity and BlackRock’s requests and scarce discussion of the assessment procedure escape the vigilance. This is in contrast to the procedure for spot Bitcoin ETFs, and it brings up the issue of the regulatory barriers associated with Ethereum financial products.
Analyst Perspectives on ETH ETF
Bloomberg ETF analyst Eric Balchunas adjusted his outlook on the approval probability of a spot Ethereum ETF by May. He lowered his estimate from 70% to 30%, reflecting growing skepticism among investors.
James Seyffart, another Bloomberg ETF analyst, commented on the silence from the SEC regarding Fidelity’s recent filings. He suggested that the lack of communication could bode better for the approval process. Seyffart’s analysis underscores the challenges facing the approval of spot Ethereum ETFs.
Read Also: Bitcoin Cash Gears Towards BCH Halving with 22% Weekly Price Surge
- Breaking: Michael Saylor’s Strategy Adds 1,955 Bitcoin Amid S&P 500 Snub; MSTR Stock Falls
- XRP and Solana Eye Breakout Amid Institutions Buying, Call Options
- Pi Network Mod Flags Scammer Wallet Linked to Multiple Token Thefts
- Crypto Market Turns Bullish as Standard Chartered Predicts 50bps Fed Rate Cut Next Week
- US SEC Delays Canary HBAR and Grayscale Polkadot ETF, Here’s Why
- Dogecoin Price Forecast: Analyst Targets $2 as DOGE Leads Altcoin Market Amid ETF Optimism
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
