SEC institutes proceedings on Grayscale spot Ether ETF, pushing deadline

The U.S. Securities and Exchange Commission approved spot Bitcoin exchange-traded funds for the first time on Jan. 10.

The United States Securities and Exchange Commission has pushed its decision on whether to approve or disapprove of a spot Ether exchange-traded fund (ETF) 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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