Three additional asset management companies based in the United States have made amendments to their spot Ether (ETH) exchange-traded fund (ETF) applications with the Securities and Exchange Commission (SEC). BlackRock, Grayscale, and Bitwise have all removed provisions for staking in their filings. The approval of these filings by the SEC would be a significant step towards the listing and trading of spot Ether ETFs on exchanges. The amended filing from BlackRock states that none of the parties associated with the trust will engage in actions related to Ethereum’s proof-of-stake validation or the earning of additional ETH. On May 21, Fidelity, VanEck, Franklin Templeton, Invesco Galaxy, and ARK 21Shares also made similar amendments to their applications. The SEC is expected to make a decision on VanEck’s application by May 23. The decision has become intertwined with discussions about potential legislation to define the SEC’s role in digital asset regulation. The approval of spot Ether ETFs is uncertain, as the commission had previously approved spot Bitcoin investment vehicles in January. The Depository Trust and Clearing Corporation has listed VanEck’s Ether ETF under the ticker symbol ETHV, indicating the asset manager’s preparations for SEC approval. The SEC is facing a challenging battle in its regulation of the crypto industry.
BlackRock, Grayscale, and Bitwise make revisions to ETF filings ahead of SEC determination.