SEC flooded with 12 Ethereum ETF applications in less than a week

As of Aug. 3, the U.S. Securities and Exchange Commission (SEC) has received a total of 12 Ethereum (ETH) exchange-traded fund (ETF) applications. The latest additions came from Bitwise, submitting new applications for equal-weight and market-weight versions of its Bitcoin and ETH futures ETFs.

Timeline of Ethereum

ProShares has become the eleventh to apply to the U.S. Securities and Exchange Commission (SEC) to register an Ether exchange-traded fund (ETF). Multiple Filings By ProShares ProShares has joined the ranks of other asset managers seeking to register an Ether exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

In the race to launch the first Ether Exchange-Traded Fund (ETF), the Securities and Exchange Commission (SEC) has been overloaded with applications from various firms seeking approval.

On Twitter, a bizarre story is circulating about an Ethereum developer who allegedly “accidentally” blocked 5 ETH (the equivalent of $9,000 at the time of writing) for 100 years in order to create his first TEST token. However, according to some, the story is being made public just to attract attention.

The cryptocurrency market is an ever-evolving landscape, with each asset having its own dynamics. Ethereum, the leading altcoin, is currently generating considerable attention, with analysts referring to it as a "ticking bomb.

Six financial entities, including Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale, are reportedly seeking approval to offer Ethereum futures exchange-traded funds (ETFs). This discovery was uncovered by James Seyffart, a research analyst within Bloomberg Intelligence.

Ethereum price is struggling to keep support at $1,830 intact, while the entire crypto market continues with its longstanding lull. Since the rejection from $2,000 around mid-July, recovery attempts have been minimal, with the least resistance path mainly downward.

The plot thickens in the narrative surrounding the Securities and Exchange Commission (SEC) and potential conflicts of interest in its cryptocurrency enforcement. Twitter user Digitalassetinvestor.xrp raises provocative questions after analyzing the documents obtained by Empower Oversight from the SEC.

Ether ETF filings are pouring into the SEC, with ProShares submitting its 11th application. The rush of Ether-focused applications follows several filings from major firms to launch spot Bitcoin ETFs.

The number of Ethereum exchange-traded fund (ETF) applications is increasing by the day, with ProShares adding another. However, according to experts, the likelihood of any of them getting approved by the Securities and Exchange Commission is slim.

Ethereum price is currently still below $2,000 but this could quickly change if some things were to come to pass. Some of the most notable things that have been going on for the cryptocurrency include the multiple exchange-traded funds (ETFs) filings that have been made to the United States Securities and Exchange Commission (SEC).