Another company joined the spot Ethereum ETF race in the USA.

Asset management company ProShares has become the latest company to file a spot Ethereum ETF issuance with the US Securities and Exchange Commission (SEC).

Following ProShares' issuance request, NYSE Arca's application for a rule change to list these products was also accepted by the SEC. In the next period, the regulatory body will initiate the public feedback process, and this process will last 21 days, and the application is expected to be finalized by the end of July.

However, even if the SEC accepts the application, described as form 19b-4, ProShares' ETH ETF will await approval for the transaction in the same way as other applications approved in May. On the other hand, in the latest developments regarding Ethereum ETFs, Ark Invest and 21Shares terminated their partnership regarding the #Ethereum ETF and withdrew their application. 21Shares then made its own application.

Bloomberg #ETF Analyst James Seyffart welcomed ProShares' ETH ETF application and the SEC's quick action on this application. It was interpreted as a remarkable detail that ProShares, which launched the first forward Bitcoin ETFs, bypassed the spot Bitcoin ETFs and turned to Ethereum.

Experts think ProShares' #Ethereum ETF could be approved at the same time as other applications. It is thought that the increase in the number of applications with important companies such as ProShares may be effective in the approval coming sooner than expected.
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