The SEC seeks comments on three proposed Ethereum ETFs

The US Securities and Exchange Commission is asking the public to comment on three proposals. Ethereum Exchange-traded funds (ETFs) – the latest move from the regulator for the most anticipated investment products.

Grayscale Investments, Fidelity and BitWise have now been given a three-week comment period, Wall Street's top regulator said Tuesday.

This is a standard part of the process for fund managers seeking approval for ETFs from the SEC, and the same thing happened on the spot Bitcoin ETF applications – US citizens and organizations wrote to the SEC Voting Their respective opinions on the proposed investment products.

All three fund managers offer ETH ETFs for the regulatory space. The idea is to hold ETH and sell stocks that track the value of the asset.

In January, SEC approved 11 place Bitcoin (BTC) ETFs, allows them to trade after ten years of rejection. The investment vehicles are now traded on stock exchanges, allowing traditional investors to buy shares that track the value of the cryptocurrency.

And they've been imported in large quantities, and they've become very popular.

Many of them are similar money managers. Trying now The second largest digital coin by market capitalization to get permission from the regulator to do the same with ETH.

British Universal Bank Standard Chartered he said. On the January report, the ETH ETF is expected to await approval from the SEC by the May deadline.

However, industry analysts suggested that delaying the gap between Bitcoin and Ethereum spot ETFs would be a good thing, saying that the regulator's approval of the products is unlikely.

of The price of ETH It now stands at just under $3,314, according to CoinGecko. Unlike BTC, it is still a long way from its 2021 all-time high of $4,878.

Edited by Ryan Ozawa.