The SEC has opened comments on Grayscale, Fidelity, and Bitwise‘s applications to launch spot Ethereum exchange-traded funds (ETFs).
The notices apply to proposed rule changes through which two exchanges — Cboe BZX and NYSE Arca — aim to list and trade shares of the three funds.
Comments are open for 21 days following publication in the federal register.
This phase is a routine procedure in the approval process for ETFs, mirroring the approach taken with spot Bitcoin ETF applications, which previously encouraged feedback from US citizens and organizations.
Market correlation
Each notice discusses matters that are expected to influence the SEC when it comes time to approve or reject the proposed spot Ethereum ETFs.
Most importantly, the notices discuss correlations between ETH futures and ETH spot markets and whether the spot ETH market is of a significant size related to the futures…
