The SEC’s Recent Actions on Ethereum ETFs and Ark Invest’s Application

On June 10, the Securities and Exchange Commission (SEC) made significant moves in the world of cryptocurrency ETFs. The SEC acknowledged a proposed rule change for ProShares Ethereum ETF and approved Ark Invest’s exit from 21 Shares’ application.

The SEC’s decision on the proposed rule change for ProShares Ethereum ETF is eagerly awaited by the cryptocurrency community. The SEC must act on the proposal within 45 days of publication, with an option to delay up to 90 days. This potential delay could impact ProShares’ launch date and the availability of the ETF to investors.

It is worth noting that the SEC has already approved rule changes for eight spot ETH ETFs on May 23. However, despite the approval, these products have not yet launched for trading. This delay has left many investors wondering when they will be able to access these ETFs and capitalize on the growing interest in Ethereum.

Ark Invest’s exit from 21 Shares’ application also caught the attention of many in the cryptocurrency community. Ark Invest, known for its innovative approach to investing, decided to withdraw its application with 21 Shares. While the reasons for this decision are not entirely clear, it has sparked speculation about Ark Invest’s future plans in the cryptocurrency space.

Overall, the SEC’s recent actions regarding Ethereum ETFs and Ark Invest’s application have generated significant interest and speculation within the cryptocurrency community. As we await further developments, it will be interesting to see how these decisions shape the future of cryptocurrency investing.