Grayscale investments and BlackRock have had their applications for a spot Ether exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission.
Grayscale sought to convert its Ethereum trust product (ETHE) into an ETF.
The delay of the applications comes as no surprise as the U.S SEC has been unwelcoming towards spot crypto ETF products, only allowing a flurry of spot bitcoin ETFs to go live in the U.S. for the first time earlier in January.
It is unclear whether prospective issuers of the spot Ether ETF have began filling updated documents to address the SEC’s reservations like they did with the spot bitcoin ETF applications.
