The United States Securities and Exchange Commission (SEC) is reviewing an application from ProShares for a spot Ether (CRYPTO:ETH) exchange-traded fund (ETF).

This follows the recent approval of similar ETF filings from eight asset managers in May.

ProShares' proposal, submitted to the New York Stock Exchange (NYSE) Arca, is now open for public comments for 21 days, with the SEC having 45 days to make a decision.

While the final approval process may take months, some experts anticipate a decision by July.

ProShares previously obtained SEC approval for a spot investment vehicle tied to ETH futures in October 2023.