Ethereum

James

<p class="is-style-lead">The U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/">SEC</a>) has delayed a decision on Fidelity’s application to launch spot Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) ETFs.</p> 
<p>According to information on the regulator’s <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99390.pdf" target="_blank" rel="noopener">website</a> dated Jan. 18, a decision on the application is now expected on March 5, 2024.</p> 
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 <p>“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.”</p> <cite>SEC filing</cite>
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<p>Bloomberg analyst James Seyffart&nbsp;called&nbsp;the move “expected.” At the same time, he admitted that in March, the SEC would again postpone the decision on the application until May.</p> 
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   <p lang="en" dir="ltr">Fidelity <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ethereum</a> ETF delayed just now. Completely expected. Dates that really matter are late May in my view. <a href="https://t.co/8mvhcPRaS7" target="_blank">https://t.co/8mvhcPRaS7</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1748098917676331285?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 18, 2024</a>
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<p>The price of Ethereum reacted with a slight drop falling 2.8% to $2,459 at the time of writing. However, cryptocurrency trading volumes increased significantly – more than 14% in 24 hours, to $11.9 billion.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="495" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-19-at-09.23.31-1024x495.png" alt="SEC postpones decision on Fidelity's spot Ethereum ETF - 19" class="wp-image-14240158">
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  Source: CoinMarketCap
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<p>Last week, the SEC <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/">approved</a> 11 spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) ETFs to begin trading, prompting some in the industry to wonder&nbsp;whether an Ethereum spot ETF will be following.</p> 
<p>In late 2023, Fidelity <a href="https://crypto.news/fidelity-investments-floats-ethereum-etf-application/">joined</a> fellow giant BlackRock in the race for an Ethereum spot ETF. A month before these firms filed bids for spot products, ETH futures ETFs went live. The head of financial giant BlackRock, Larry Fink, <a href="https://crypto.news/blackrocks-larry-fink-points-to-value-in-ethereum-etfs-crypto-asset-class/">said</a> he “sees value” in a spot ETF&nbsp;based on the second-largest cryptocurrency. In his opinion, these are “just steps towards tokenization.”</p> 
<p> Read more: <a href="https://crypto.news/us-etf-market-heats-up-with-ethereum-what-you-need-to-know/"> US ETF market heats up with Ethereum: what you need to know </a> </p>

SEC postpones decision on Fidelity’s spot Ethereum ETF

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