The Hashdex Nasdaq Ethereum ETF offers a combination of investing directly in ETH and investing in ETH futures. On the other hand, Grayscale’s application is seen by many as a strategic move – if approved, the company will be able to convert their private investment fund, Ethereum Trust, into a spot ETF for ether.
In order to assess the potential approval of these ETFs, the SEC has scheduled additional proceedings and will also seek public comment on the matter.
Bloomberg analyst James Seyffart has pointed out that the delay in the decision-making process regarding ETFs on ether was expected, especially considering the regulator’s current focus on spot Bitcoin ETF applications. It is anticipated that these Bitcoin trusts will become available early next year.
Seyffart has also recently highlighted that the SEC does not classify ETH as a security, which increases the likelihood of spot ETH ETFs being approved within the coming year.