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The application for a spot Ether exchange-trade fund (ETF) by Fidelity, a leading asset management firm with around $11 trillion in assets under management, has been delayed by the United States Securities and Exchange Commission (SEC).&nbsp;
The delay came on the same day when the applications for another five leveraged Bitcoin ETFs were filed for SEC approval.&nbsp;
<h2 id="span-style-font-weight-400-sec-wants-time-for-spot-ether-etf-approval-span">SEC Wants Time for Spot Ether ETF Approval</h2>
According to a January 18 statement<a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99390.pdf" rel="noopener noreferrer nofollow"> issued</a> by the SEC, the ETF application was delayed by another 45 days “so that it has sufficient time to consider the proposed rule change and the issues raised.”
<h3 id="span-style-font-weight-400-march-5-decided-as-next-date-span">March 5 Decided as Next Date</h3>
The regulatory body confirmed that it has decided March 5 as the next date to make its decision. It is important to note that Bloomberg analyst James Seyffart said in a post on social media platform X that he “completely expected” the delay.
<a href="https://twitter.com/JSeyff/status/1748098917676331285" rel="noopener noreferrer nofollow">https://twitter.com/JSeyff/status/1748098917676331285</a>
The analyst also<a href="https://twitter.com/JSeyff/status/1748054319444742608" rel="noopener noreferrer nofollow"> said</a> that he will not be making predictions about the prices of digital assets in the short term.
“You will not see me talking about short term price or much about prices in general. I apologize in advance but I am literally not allowed to give price predictions,” Seyffart said.&nbsp;
<h2 id="span-style-font-weight-400-vaneck-s-spot-ether-etf-application-span">VanEck’s Spot Ether ETF Application</h2>
While talking about the spot Ether ETF application submitted by another asset management firm, VanEck, Seyffart said, “Dates that really matter are late May in my view.” Interestingly, the<a href="https://thecoinrise.com/jpmorgan-doubt-the-likelihood-of-a-spot-ethereum-etf-approval-in-may/" rel="noopener noreferrer nofollow"> SEC has until May 23 to approve</a> the firm’s application.&nbsp;
<h3 id="span-style-font-weight-400-simultaneous-approval-span">Simultaneous Approval</h3>
Some analysts have<a href="https://twitter.com/WClementeIII/status/1745202909271167079" rel="noopener noreferrer nofollow"> predicted</a> that the SEC will approve all the pending spot Ether ETF applications simultaneously, like it did with the<a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> spot Bitcoin ETF applications</a> earlier in January.
Meanwhile,<a href="https://thecoinrise.com/blackrock-fidelity-takes-early-spot-bitcoin-etfs-lead/" rel="noopener noreferrer nofollow"> Bitwise, Fidelity, and BlackRock have taken the lead</a> when it comes to the inflow of money in their spot Bitcoin ETFs.
As mentioned above, Direxion<a href="https://www.sec.gov/Archives/edgar/data/1424958/000119312524010269/d167180d485apos.htm#xx_205e0923-924f-44c9-b32d-2e1895ab3102_1" rel="noopener noreferrer nofollow"> filed</a> for five Bitcoin ETFs with the SEC on January 18, joining rivals like ProShares that have submitted similar applications.
The post <a href="https://thecoinrise.com/spot-ether-etf-from-fidelity-delayed-all-you-should-know/" rel="noopener noreferrer nofollow">Spot Ether ETF from Fidelity Delayed: All You Should Know</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Spot Ether ETF from Fidelity Delayed: All You Should Know

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