The United States Securities and Exchange Commission (SEC) has pushed its decision on whether to approve or disapprove of a spot Ether (ETH) exchange-traded fund from Grayscale Investments, opening the application to public comments.
In a Jan. 25 notice, the SEC said it would institute proceedings to determine whether to approve or disapprove a proposed rule change that would allow NYSE Arca to list and trade the Grayscale Ethereum Trust shares. Opening the proposed investment vehicle to public comment will push the deadline for a decision by an additional 35 days upon publication in the Federal Register.
“Interested persons are invited to submit written data, views, and arguments regarding whether the proposed rule change should be approved or disapproved,” said the SEC.
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The SEC notice came 15 days after the commission approved listings for shares of spot Bitcoin (BTC) ETFs on U.S. exchanges for the first time, including an offering from the Grayscale Bitcoin Trust. Since its launch, GBTC outflows have been among the highest of the 11 approved spot BTC ETFs, reaching roughly $4.4 billion over nine trading days.
Grayscale first filed with the SEC to convert shares of its Grayscale Ethereum Trust into a spot Ether ETF in October, adding its name to the list of companies awaiting a decision from the regulator. On Jan. 25, the SEC pushed a decision on BlackRock’s spot Ethereum ETF to March, with many experts speculating the commission could take the maximum allowable 240 days to decide.
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