The Securities and Exchange Commission has postponed the decision on BlockRock’s proposal for a spot Ethereum exchange-traded fund until March.
The Wednesday filing said, “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”
It is now up to the SEC to decide whether to approve, reject, or start new proceedings regarding the proposed fund by March 10. BlackRock submitted an application in November for its Ethereum ETF, called iShares Ethereum Trust.
According to a filing submitted last week, Fidelity’s application for the Fidelity Ethereum Fund was also postponed.
Spot Ethereum ETF proposals will probably continue to be delayed, according to James Seyffart, an ETF analyst for Bloomberg Intelligence. He posted on the X, saying, “Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd.”
After the SEC approved a spot bitcoin ETF this month, cryptocurrency experts have expressed mixed feelings about the prospect of a spot ether ETF and believe approval could come as early as May.
Also Read: BlackRock CEO Sees Value in Spot Ethereum ETF Plans
Jalpa is enthusiastic content writer brings a fresh perspective to simplify complex crypto topics. She started her journey as a writer with a background as a graphic designer. She possesses talent in lettering and line art and dreams of opening her own art studio. she has an ardent love for mountain.