Multiple Issuers Revise ETH Spot ETF Applications with SEC: Bloomberg Analyst

Multiple Issuers Revise ETH Spot ETF Applications with SEC: Bloomberg Analyst

The wait for a spot-traded Ethereum (ETH) exchange-traded fund (ETF) in the United States might soon be over, as five separate issuers have reportedly submitted revised filings with the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst James Seyffart tweeted on Friday that "in the past 25 minutes, five potential issuers of a physical #ethereum (ETH) ETF have filed amended 19b-4s." According to Seyffart, the filings include submissions from Fidelity, VanEck, Invesco-Galaxy, and ARK-21Shares, among others. All five applicants have previously submitted filings with the Chicago Board Options Exchange (CBOE) for physically backed ETH ETFs but were met with resistance from the SEC. The SEC has expressed concerns about the liquidity and susceptibility to manipulation of the ETH spot market. As a result, the agency has requested that CBOE resubmit its filing for a physically backed ETH ETF. The resubmissions from these five issuers indicate that they have addressed the SEC's concerns and may be ready for approval. The approval of a spot-traded ETH ETF would be a significant milestone for the cryptocurrency market. It would provide investors with an easy and regulated way to gain exposure to ETH and could potentially attract substantial inflows from traditional financial institutions and retail investors.