The U.S. SEC calls for comments on the spot Ethereum ETF

The U.S. Securities and Exchange Commission has opened a window for comments on three proposed Ethereum spot ETFs. According to the notice released by the agency on Tuesday, ETF efforts related to Grayscale Investments, Fidelity, and Bitwise will undergo a three-week comment period to solicit opinions from interested parties on proposed rule changes. Although hopes have been growing since the agency approved a Bitcoin spot ETF in January, industry analysts are less optimistic about whether regulators will follow suit and launch products tracking Ethereum.

After suffering a defeat in court disputes with Grayscale, the commission was forced to abandon its previous opposition to Bitcoin applications. SEC officials argued that their approval of Bitcoin ETFs does not apply to other tokens. The steady arrival of Bitcoin spot ETFs greatly expanded investment in this token. If similar approvals are obtained for ETH, it is expected that similar results would occur. However, it has been reported that the U.S Securities and Exchange Commission has been investigating whether ETH should be classified as securities which would give it different legal status than Bitcoin.