Ethereum

ETF Ethereum

<p>The SEC is playing for time, pushing back its pivotal decision on the proposed Fidelity spot Ethereum ETF to March 5. In a strategic move, the regulator extends the suspense, stating that a longer examination period is necessary to assess this significant initiative. However, an analyst predicts a final verdict by the end of May.</p>
<h2 id="h-spot-ethereum-etf-a-deadline-extended-to-march-5">Spot Ethereum ETF: A Deadline Extended to March 5</h2>
<p>In November 2023, Fidelity submitted an application for the Fidelity Ethereum Fund, a <a href="https://www.cointribune.com/en/the-ethereum-spot-etf-another-major-turning-point-for-the-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETF</a>. In a document released this Thursday, January 18, <strong>the SEC postponed the deadline for making a decision</strong>. Believing it is “appropriate to designate a longer period,” the deadline is <strong>extended to March 5</strong>. This period is required to take action on the proposed rule change, <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99390.pdf" target="_blank" rel="noopener noreferrer nofollow">the SEC declared</a>. The Commission now has more time <strong>to decide on approval, denial, or to initiate proceedings.</strong></p>
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<p>The <a href="https://www.cointribune.com/en/approval-of-a-bitcoin-spot-etf-what-impact-on-the-ethereum-ecosystem/" target="_blank" rel="noopener noreferrer nofollow">approval of 11 Bitcoin ETFs</a> by the SEC last week leads to speculation whether the Ethereum ETF will be next. Indeed, Fidelity joined BlackRock late last year in the <strong>race for a spot Ethereum ETF.</strong> The launch of Ether futures ETFs occurred one month prior to their application. Stuart Barton, cofounder of Volatility Shares, believes that the SEC views Ether in the same light as Bitcoin.</p> 
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<h2 id="h-the-sec-should-make-a-decision-by-the-end-of-may">The SEC Should Make a Decision By the End of May</h2>
<p>James Seyffart, an ETF analyst at Bloomberg Intelligence, <a href="https://twitter.com/JSeyff/status/1748098917676331285" target="_blank" rel="noopener noreferrer nofollow">stated on Twitter</a> that this delay was very much expected. He added that <strong>the dates that really matter are at the end of May</strong>. This deadline could be related to the fact that the SEC must approve or reject a proposal from a competing company.</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" rel="noopener noreferrer nofollow">#ethereum</a> ETF delayed just now. Completely expected. Dates that really matter are late May in my view. <a href="https://t.co/8mvhcPRaS7" rel="noopener noreferrer nofollow">https://t.co/8mvhcPRaS7</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1748098917676331285?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 18, 2024</a>
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<p>Indeed, by May 23, the Commission must have made its decision on the ETF Ethereum request from <a href="https://www.cointribune.com/etf-ethereum-vaneck-bitwise-et-proshares-entrent-dans-lhistoire/" target="_blank" rel="noopener noreferrer nofollow">VanEck</a>. The SEC, having already initiated proceedings regarding this request, <strong>can no longer delay its decision.</strong> Moreover, it is known that the regulator often approves similar ETFs together. It will probably make a statement on pending Ethereum ETFs at the end of May.</p>
<p>Meanwhile, the <a href="https://www.cointribune.com/en/crypto-markets/ethereum-eth-en/" target="_blank" rel="noopener noreferrer nofollow">price of Ethereum</a> is stabilizing around $2478, approaching a critical support zone at $2400. Despite a slight decrease over the past eight days, <strong>Ethereum still registers a 9% increase</strong> since the beginning of the year.</p>

ETF Ethereum: SEC delays decision on Fidelity’s request

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