The United States Securities and Exchange Commission has been in the spotlight as it opened up a public comment period on three exchange-traded funds (ETFs) that would offer ether spot.
“The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons,” The following are some of the ways to get in touch with us. filing stated.
U.S. regulators have given Bitwise and Grayscale a period of 21 days to submit comments on their ETH ETF proposal. This was announced in a notice published by the U.S. government on 2 April. Bitwise’s and Grayscale’s filings are aiming to list on NYSE Arca and Fidelity’s is focusing on trading on Cboe BZX Exchange.
After the introduction of Bitcoin ETFs, analysts were hopeful for their approval. However, optimism As the SEC stated, it has now dried up. silence On the subject.
“Asking for public comments on a 19b-4 is standard procedure,” wrote James Seyffart, Bloomberg Analyst “Every single 19b-4 ETF filing goes through the same process (whether approved or denied) It’s not “bullish” in any capacity for #Ethereum ETFs.”
ETH analyst Eric Blachunas echoed similar sentiments last month. Bloomberg’s analyst estimated that the chances of sports ETH ETFs getting approved were only 25%.
“The lack of engagement seems to be purposeful vs procrastination. No positive signs/intel anywhere you look,” Balchunas said.
Gary Gensler, the SEC chairman at that time, warned against the approval of Bitcoin ETFs by his commission. “signal” The regulator then explains its views regarding the legal status other crypto currencies. After this, regulators will then discuss their views on the legal status of other cryptocurrencies. launched In March, the Ethereum Foundation was investigated in an attempt to classify the cryptocurrency as a financial instrument.
Consesnys is the MetaMask Creator. urged The SEC should recognize that Ethereum is designed with advanced security features. The company also stated that concerns raised by the SEC about Ethereum being susceptible to manipulation and fraud are unfounded.
SEC expected to announce The decision is expected to be made by 23 May. VanECK Spot Ether ETF should be first in line to get approved or refused. Other submissions include those by ARK 21 shares and Hashdex.
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Source: crypto.news
