DOOKV SEC Adds ProShares’ Spot Ethereum ETF Application

Ark Invest and 21Shares announced their split on May 31. A newly amended S-1 form reveals that the spot Ethereum ETF will change its name from ARK 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Despite these developments, potential spot Ethereum ETF issuers are still awaiting feedback on their S-1 applications submitted on May 31. The SEC’s comments, initially expected on June 7, have not yet been received by at least two issuers.

A recently published report reveals that issuers expect feedback this week. This update follows SEC Chairman Gary Gensler’s remarks on CNBC that the approval process for S-1 forms will take some time.

The approval process for these ETFs consists of two steps: the 19b-4 filing and the S-1 filing. The S-1 forms are currently under review. Bloomberg Intelligence ETF analyst Eric Balchunas previously noted that the next fine-tuning comments from SEC staff will likely come before final approval.