Ethereum

James

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 <p class="is-style-lead">The U.S. Securities and Exchange Commission (SEC) has delayed a <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> on Fidelity’s application to launch spot Ethereum (ETH) ETFs.</p>
 <p>According to information on the regulator’s website dated Jan. 18, a <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> 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 <a rel="noopener noreferrer nofollow" title="postpone" href="https://thebittimes.com/tag/postpone.html">postpone</a> the <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> on the application until May.</p>
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    <p lang="en" dir="ltr">Fidelity #ethereum ETF delayed just now. Completely expected. Dates that really matter are late May in my view. https://t.co/8mvhcPRaS7</p>— James Seyffart (@JSeyff) January 18, 2024
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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 decoding="async" width="1024" height="495" src="https://cdn.thebittimes.com/images/2024/01/19/48dd060b62965d04c030ea0d126c8416.webp" alt="SEC postpones decision on Fidelity's spot Ethereum ETF - 1"> 
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   Source: CoinMarketCap
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 <p>Last week, the SEC approved 11 spot Bitcoin (BTC) 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 joined 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, said he “sees value” in a spot ETF&nbsp;based on the second-largest cryptocurrency. In his opinion, these are “just steps towards tokenization.”</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> US ETF market heats up with Ethereum: what you need to know
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-postpones-decision-on-fidelity-s-spot-ethereum-etf-tbt77056.html">https://thebittimes.com/sec-postpones-decision-on-fidelity-s-spot-ethereum-etf-tbt77056.html</a></p>

SEC postpones decision on Fidelity’s spot Ethereum ETF

TheBitTimes

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