According to Golden Finance, the U.S. Securities and Exchange Commission has opened a window for comments on three Ethereum spot ETF proposals. According to a notice released by the agency on Tuesday, ETF work related to Grayscale Investments, Fidelity and Bitwise will be subject to a three-week comment period to solicit opinions from interested parties on the proposed rule changes.
Despite growing hopes following the agency’s approval of a spot Bitcoin ETF in January, industry analysts have become less optimistic about whether regulators will follow suit and launch a product that tracks Ethereum. The commission was forced to drop its previous opposition to the Bitcoin application after a disastrous defeat in a court battle with Grayscale, with SEC officials arguing that their approval of a Bitcoin ETF does not apply to other tokens. The arrival of a stable of spot Bitcoin ETFs has greatly expanded investment in the coin. Similar results are expected for ETH if the agency receives similar approval. However, the SEC has reportedly been investigating whether ETH should be classified as a security, which would give it a different legal status than Bitcoin.
