Ethereum

Spot

<div class="cryptonews">
 <p class="is-style-lead">The Securities and Exchange Commission (SEC) has delayed its <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> on BlackRock’s application to <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> a spot Ethereum (ETH) ETF to March.</p>
 <p>According to a document on the SEC website, a new <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> on the application, which was supposed to be made on Jan. 25, is now expected on March 10, 2024. SEC representatives explained their <a rel="noopener noreferrer nofollow" title="decision" href="https://thebittimes.com/tag/decision.html">decision</a> due to the lack of time to review all the application details.</p>
 <blockquote class="wp-block-quote">
  <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>
 </blockquote>
 <p>Bloomberg Intelligence ETF analyst James Seyffart said <a rel="noopener noreferrer nofollow" title="delays" href="https://thebittimes.com/tag/delays.html">delays</a> in Ethereum spot ETF offerings will likely continue.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd https://t.co/2zBBvHkrVk</p>— James Seyffart (@JSeyff) January 24, 2024
   </blockquote>
  </div>
 </figure>
 <p>On Jan. 19, 2024, the Commission postponed the decision on the application to launch a spot Ethereum-ETF from Fidelity. A new deadline has also been set for March.</p>
 <p>Several companies, including BlackRock, have filed papers to open an Ethereum-based spot fund. Company CEO Larry Fink said he supports the <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> of this product category. JPMorgan Chase noted that the SEC will unlikely approve this class of funds in the spring of 2024. Among other things, they also pointed out the uncertain status of Ethereum.</p>
 <p>The media expects the SEC to approve the launch of spot Ethereum ETFs by the end of summer 2024. In citing her sources, Fox Business journalist Eleanor Terrett noted that Ethereum’s “opaque” status may complicate the process. However, her source doesn’t think so. According to him, the Commodity Futures Trading Commission already positions the asset as a commodity.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Reporting on the timeline for a potential $ETH ETF approval has turned up a plethora of different takes from ETF issuers, investment management firms and sources close to the @SECGov. <br><br>One $BTC Spot ETF issuer with an ETH Spot ETF application says they’re confident the…</p>— Eleanor Terrett (@EleanorTerrett) January 23, 2024
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> SEC Commissioner: Ethereum ETF approvals won’t be same as Bitcoin
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-delays-decision-on-blackrock-s-ethereum-spot-etf-launch-tbt77676.html">https://thebittimes.com/sec-delays-decision-on-blackrock-s-ethereum-spot-etf-launch-tbt77676.html</a></p>

SEC delays decision on BlackRock’s Ethereum spot ETF launch

TheBitTimes

Other articles published on Jan 25, 2024

Crypto Firm Bakkt Broadens Global Reach with International Expansion

Female Techpreneur hosts groundbreaking Founders’ Lounge event in Lagos today

US Government To Sell Over $131 Million In Bitcoin Seized From Silk Road

Rebel Satoshi, Blur, and Celestia Poised to Lead the Next Cryptocurrency Bull Run, Say Experts

Brave Chinese Investors Defy Crypto Ban, Pouring Millions into Digital Assets Daily

Solana’s Resilience Amidst Market Turbulence and Ecosystem Growth

Join our free newsletter for daily crypto updates!