SEC reviews Fidelity/Grayscale/Bitwise ETH trust proposals

The Securities and Exchange Commission (SEC) has reached out for public opinion regarding three NFTs. They include the Fidelity Ethereum Fund, the Grayscale Ethereum Trust, and the Bitwise Ethereum Trust.

The fact that the SEC refuses to throw any light on the matter, according to Bloomberg, is not at all a very encouraging situation.

In this regard, an official notice by the SEC has been issued about views on the suggested rule alteration, as modified by Amendment No:1, from individuals who are concerned.

The SEC expects the feedback to come in after twenty-one days. Optimism, on its part, has given an adverse verdict on the possibility of the SEC giving its consent regarding the spot ether ETF.

In the case of an ETF analyst at Bloomberg, Eric Balchunas, he strongly feels no real decision will be taken on the pending matter of a spot ether ETF consent before May, the chances of that too being very bleak.

In a statement released by an associate ETF analyst at Bloomberg, James Seyffart, he mentions the fact that he has been duly tagged in a tweet, along with a whole lot of others, with regards to the 19b-4 documents filed, related to Ethereum ETFs. In his opinion, he did not find any clue notifying even the slightest bit of change. He feels that the SEC’s silence seems to be speaking more.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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