The United States Securities and Exchange Commission (SEC) is reviewing an application for a spot Ethereum ETF from ProShares, a move that could potentially open up new investment opportunities for cryptocurrency enthusiasts. This development comes three weeks after the SEC approved eight other Ethereum ETFs from prominent financial institutions such as BlackRock, Fidelity, and Grayscale.

According to a recent filing, the SEC is seeking public comments on the ETF application, which proposes listing and trading shares of the ProShares Ethereum ETF on the New York Stock Exchange (NYSE) Arca. The regulator has 45 days to approve, disapprove, or extend its decision after the 21-day public comment period.

Industry experts anticipate that final approval could be granted by July, paving the way for the ETF to commence trading. While some analysts believe that the ProShares ETF might not launch simultaneously with other approved ETFs,