The SEC said in a June 10 filing that the New York Stock Exchange (NYSE) Arca had requested a rule change letting it list and trade ProShares Ethereum ETF shares. Following publication in the Federal Register, the commission stated it was seeking public comments on the ETF application for twenty-one days, giving the SEC forty-five days to approve, reject, or extend the timeframe for its decision.

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Officially approving 19b-4 files from eight asset management companies applying to list and trade Ether ETFs on U.S. exchanges for the first time on May 23, the SEC Before they can formally start trading, the SEC must sign off on S-1 registration statements for the spot Ether ETFs; this process might take months, although some analysts predict it will go through sometime in July.

“Instinct initially says (ProShares ETF) won’t launch on day 1 with the other ETFs whenever that is, but who knows?” stated ETF expert James Seyffart in a June 10 X post. “This is fascinating.”

ProShares was among the first asset managers approved by the SEC in October 2023 to list and trade shares of a spot investment vehicle linked to ETH futures. Additionally, under the symbol BITO, the business provides a Bitcoin Strategy ETF on NYSE Arca.

Following its initial clearance, it is unknown if the SEC will approve ProShares’ spot Ether ETF offering. The file just indicated the commission would review the application.

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