Ethereum

BlackRock

The United States Securities and Exchange Commission (SEC) has postponed its determination regarding the approval or rejection of BlackRock and Fidelity‘s Ethereum exchange-traded funds (ETFs) linked to spot Ether (ETH). 
In filings dated March 4, the SEC announced a delay in its decision-making process regarding BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund applications. 
This postponement follows an initial delay in January, shortly after the SEC approved a series of ETFs tied to spot Bitcoin (BTC). The SEC has the option to extend its deliberation period up to three times before reaching a final verdict. 
Market observers and ETF analysts have long anticipated this delay, predicting that the SEC would likely defer a decision until the final deadline in May. 
Bloomberg ETF analyst James Seyffart highlighted May 23 as the pivotal date for VanEck’s spot ETH ETF application, emphasizing its significance in the context of Ethereum ETFs. 
Despite the SEC’s decision, the price of Ether has maintained its upward trajectory, enhanced by broader market optimism regarding potential ETF approval. Over the past month, Ether has surged by 56.7%. Nonetheless, today’s delay from the SEC did not affect its market performance. 
At the time of reporting, ETH is trading at $3,678, marking a 13% increase for the week according to CoinGecko data. 
Nevertheless, not all industry experts are convinced that a spot Ether ETF will have the same impact as spot Bitcoin ETFs. BlackRock’s iShares Bitcoin ETF alone has amassed an impressive $10 billion in assets under management. 
Bloomberg ETF analyst Eric Blachunas indicated that he and his colleague Seyffart would soon provide formal odds on the likelihood of an ETH ETF approval. However, they described the pending funds as relatively insignificant compared to their Bitcoin counterparts. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/119180/sec-delays-blackrock-and-fidelitys-ethereum-etf-requests/">SEC Delays BlackRock and Fidelity’s Ethereum ETF Requests</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

SEC Delays BlackRock and Fidelity’s Ethereum ETF Requests

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