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Friday, June 7, 2024
HomeCryptoProShares officially joins the Ethereum spot ETF race, filing form 19b-4 with...

ProShares officially joins the Ethereum spot ETF race, filing form 19b-4 with the SEC

ProShares is official send Form 19b-4 to the United States Securities and Exchange Commission (SEC) in an effort to list and trade a spot Ethereum ETF on the New York Stock Exchange (NYSE).

The move confirms ProShares considers the Ethereum ETF a new contender in the growing list of Ethereum ETFs in the United States.

Recently, the SEC approved 19b-4 applications for eight more funds: VanEck, Invesco & Galaxy, Franklin Templeton, Grayscale, BlackRock, Fidelity, 21Shares and BitwiseInvest. In contrast, Hashdex withdrew its application for a spot Ether ETF.

In order for these funds to be traded on mainstream exchanges, potential issuers must file an amended S-1 and obtain approval from the SEC.

SEC Chairman Gary Gensler pointed out that the timeline for implementing these spot Ethereum ETFs depends on how quickly the agency responds to questions and comments from potential issuers. On June 5, Gensler mentioned that the company’s response to the SEC’s comments would significantly impact the approval process but did not specify how long it would take.

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According to Coincu

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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