Ethereum ETF Spot: The SEC wants to hear from the public!

The Securities and Exchange Commission's (SEC) decision on Ethereum spot ETF applications is expected in May. Until then, the regulator follows the procedure requiring it to take into account the opinions and concerns of the public before making a decision. This was particularly the case for the Bitcoin Spot ETFs.

The file on Ethereum Spot ETFs is progressing…

The latest news is that the issue around the approval of Ethereum spot ETF applications has progressed. Indeed, according to recent information, the SEC has called for public comments regarding three of the Ethereum Spot ETF applications addressed to the institution.

This call concerns requests submitted by asset managers Bitwise, Fidelity and Grayscale. It gives the public 21 days, from publication of the appeal in the official daily newspaper of the U.S. government, to submit comments on these proposals.

According to analysts, this development is significant. It indicates that the SEC is actively preparing to make a final decision on these Ethereum ETFs. The latter must be returned in May, in particular with regard to VanEck's request.

Experts believe that the application submitted by this asset manager, scheduled for review on May 23, is likely to be the priority of the SEC. Only once this file has been cleared will the financial regulator look into the requests submitted by Hashdex and ARK 21Shares.

SEC Invites Public Comments on Ethereum Spot ETF Applications
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In a context of total uncertainty

It should be noted that the SEC opening the door to reviewing Ethereum spot ETFs can be interpreted as good news. However, this should not be misunderstood as this does not necessarily mean that approval is imminent.

Nor does it mean the market is optimistic about their potential. In fact, even optimism about them may be tempered by regulatory considerations and broader market concerns.

It must be remembered that if uncertainties weigh on the SEC's decision-making process, it is because of the investigations carried out against the Ethereum Foundation. Investigations carried out against the backdrop of the classification of ether (ETH) as a security.

Consensys, a leading crypto company, disputed these investigations in a comment letter to the SEC. In this letter, she dismisses fears of potential fraud or market manipulation associated with Ethereum spot ETFs.

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