ProShares, a prominent exchange-traded funds (ETF) issuer, has submitted a filing to list and trade a spot Ethereum (ETH) ETF on the New York Stock Exchange (NYSE). This initiative reflects ProShares' dedication to expanding its digital asset offerings and providing investors with a regulated and secure way to gain exposure to Ethereum.
The proposed ETF will utilize Coinbase Custody Trust Company for ETH custody. Notably, the filing clarifies that the firm or its affiliates will not engage in Ethereum staking activities. This move aims to align with the US Securities and Exchange Commission's (SEC) regulatory stance.
The SEC's response to the filing is anticipated by late July 2024. ProShares' application follows the company's launch of two Ethereum-linked ETFs earlier this year, showcasing its commitment to innovative financial products in the crypto space.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.