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News

New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE

June 7, 2024 - Around 2 mins mins to read

Key Points:

  • ProShares spot Ethereum ETF is registered with the SEC to trade on the NYSE, joining several other firms in the race.
  • The timeline for launching these ETFs depends on how quickly applicants address SEC comments and meet regulatory requirements, mainly by removing provisions related to ETH staking.
ProShares has officially submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) in a bid to list and trade an Ethereum spot ETF on the New York Stock Exchange (NYSE).
New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE
New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE 2

ProShares Spot Ethereum ETF Officially Joins the ETFs Race

The move positions ProShares spot Ethereum ETF as a new candidate among the growing list of Ethereum ETFs in the United States.

Recently, the SEC approved the 19b-4 applications for eight other funds: VanEck, Invesco & Galaxy, Franklin Templeton, Grayscale, BlackRock, Fidelity, 21Shares, and BitwiseInvest. In contrast, Hashdex has withdrawn its application for a spot Ether ETF, with the reasons for their withdrawal remaining unclear.

Following the SEC’s approval of their 19b-4 applications, companies must file S-1 amendments for their spot Ethereum ETF applications. ProShares spot Ethereum ETF also awaits approval of its 19b-4 application from the SEC.

Timeline for Ethereum ETFs Hinges on Regulatory Compliance

SEC Chair Gary Gensler indicated that the timeline for launching these spot Ethereum ETFs depends on how quickly applicants respond to the regulator’s questions and comments. On June 5, Gensler mentioned to Reuters that the firm’s responsiveness to SEC comments will significantly influence the approval process. He did not specify whether the process would take weeks or months.

According to past reports, the SEC will comment on the recently amended S-1 registrations from the eight firms seeking to launch spot Ethereum ETFs. These applicants then need to file further amendments before their products can be launched. The amendments mainly focus on removing provisions related to ETH staking to align with SEC requirements, thereby increasing the likelihood of approval.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ethereum

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ProShares Spot Ethereum ETF

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE

Key Points:

  • ProShares spot Ethereum ETF is registered with the SEC to trade on the NYSE, joining several other firms in the race.
  • The timeline for launching these ETFs depends on how quickly applicants address SEC comments and meet regulatory requirements, mainly by removing provisions related to ETH staking.
ProShares has officially submitted Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) in a bid to list and trade an Ethereum spot ETF on the New York Stock Exchange (NYSE).
New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE
New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE 4

ProShares Spot Ethereum ETF Officially Joins the ETFs Race

The move positions ProShares spot Ethereum ETF as a new candidate among the growing list of Ethereum ETFs in the United States.

Recently, the SEC approved the 19b-4 applications for eight other funds: VanEck, Invesco & Galaxy, Franklin Templeton, Grayscale, BlackRock, Fidelity, 21Shares, and BitwiseInvest. In contrast, Hashdex has withdrawn its application for a spot Ether ETF, with the reasons for their withdrawal remaining unclear.

Following the SEC’s approval of their 19b-4 applications, companies must file S-1 amendments for their spot Ethereum ETF applications. ProShares spot Ethereum ETF also awaits approval of its 19b-4 application from the SEC.

Timeline for Ethereum ETFs Hinges on Regulatory Compliance

SEC Chair Gary Gensler indicated that the timeline for launching these spot Ethereum ETFs depends on how quickly applicants respond to the regulator’s questions and comments. On June 5, Gensler mentioned to Reuters that the firm’s responsiveness to SEC comments will significantly influence the approval process. He did not specify whether the process would take weeks or months.

According to past reports, the SEC will comment on the recently amended S-1 registrations from the eight firms seeking to launch spot Ethereum ETFs. These applicants then need to file further amendments before their products can be launched. The amendments mainly focus on removing provisions related to ETH staking to align with SEC requirements, thereby increasing the likelihood of approval.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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