Ethereum also has an ETF? SEC has officially started the evaluation process

The U.S. Securities and Exchange Commission (SEC) has quietly begun the review process to study whether to approve an exchange-traded fund (ETF) for the cryptocurrency Ether (ETH).

EtherIndex Ether Trust first submitted an application in July 2016, planning to launch an Ethereum ETF on the NYSE Arca Exchange. According to an announcement in January, the NYSE Arca Exchange subsequently applied to amend the relevant rules to clear the way for the ETF to be launched in December.

The SEC's latest announcement revealed that the agency has begun evaluating this ETF.

The announcement mentioned:

Given the legal and policy issues involved in the rule change, the current institutional application is reasonable. However, this does not mean that the SEC has decided to support the above application. On the contrary, the SEC encourages interested parties to provide valuable opinions on this rule change.

The launch of an Ethereum ETF (although it still needs SEC approval) could lead to positive developments in the Ethereum market. Recently, the price of ETH has grown to 50美元以上.

The SEC is also actively seeking comments and feedback on the ETF. However, it is worth noting that the agency's previous solicitations for comments did not receive any response.

Whether the SEC will eventually approve the ETF remains to be seen. In the past month and a half, the SEC has rejected two Bitcoin ETF rule change applications, expressing concerns about insufficient market monitoring and supervision. (However, on Monday, the SEC has decided to review the Bitcoin ETF petition of Bats BZX trading.)

EtherIndex representatives have not yet responded to this matter.