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Fortune

Jeff John Roberts

Grayscale’s Ethereum ETF just entered a 240-day review process. Its Bitcoin cousin is expected in January

Grayscale Bitcoin ETF United States Ethereum SEC Crypto

Michael Sonnenshein (Credit: Matthew Busch—Bloomberg via Getty Images)

The U.S. government on Friday published an application by crypto giant Grayscale to launch an Ethereum ETF for the spot market. Grayscale first applied for the ETF in early October, but the petition's appearance on the Federal Reserve is significant because it starts a 240-day clock by which the Securities and Exchange Commission must respond.

The start of the Ethereum ETF process also coincides with a surge in crypto prices this month that analysts believe is correlated to impending decisions by the SEC on a batch of Bitcoin ETF applications by Grayscale, BlackRock, and others.

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