The United States Securities and Exchange Commission (SEC) has received a spot Ether exchange-traded fund (ETF) application from asset manager ProShares, following the approval of similar filings from eight other asset managers in May.

On June 10, the SEC disclosed that the New York Stock Exchange (NYSE) Arca had proposed a rule change to list and trade shares of the ProShares Ethereum ETF. The commission is now seeking public comments on the application for 21 days post-publication in the Federal Register, with a 45-day window to approve, disapprove, or extend the decision timeline.

Previously, on May 23, the SEC had approved 19b-4 filings from eight asset management firms to list and trade spot Ether ETFs on U.S. exchanges. However, these ETFs require final SEC approval of their S-1 registration statements before trading can commence, a process that could take months but is expected by some experts to conclude in July.

ETF analyst James Seyffart commented on the ProShares application, noting that it might not launch simultaneously with the other ETFs, though the outcome remains uncertain.

ProShares, which secured SEC approval for an ETH futures ETF in October 2023, also offers a Bitcoin Strategy ETF under the ticker BITO on NYSE Arca. The SEC's final decision on ProShares’ spot Ether ETF is still pending, with the current filing indicating consideration rather than immediate approval.