Ethereum

BlackRock

The SEC has again postponed its decision on an ETH ETF, with the VanEck Ethereum ETF receiving a delayed deadline.
In a recent <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99782.pdf" data-type="link" data-id="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99782.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a>, the SEC indicated that it would extend the decision deadline to May 23 and has invited public comments on the matter. This highlights the agency’s cautious approach towards crypto.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1, and the issues raised therein,” the <a href="https://crypto.news/tag/sec/" data-type="link" data-id="https://crypto.news/tag/sec/" rel="noopener noreferrer nofollow">SEC</a> stated in the filing.
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 And there's <a href="https://twitter.com/vaneck_us?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@vaneck_us</a>'s delay just a bit ago: <a href="https://t.co/MmRRjdDgUI" target="_blank" rel="noopener noreferrer nofollow">https://t.co/MmRRjdDgUI</a> <a href="https://t.co/WVvfzaZo1y" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/WVvfzaZo1y</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1770494252201521155?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 20, 2024</a>
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You might also like: <a href="https://crypto.news/blackrock-digital-asset-ethereum/" rel="noopener noreferrer nofollow"> BlackRock starts digital asset fund supported by $100m on Ethereum </a>
The postponement follows closely on the heels of similar delays for the <a href="https://crypto.news/sec-postpones-hashdexs-spot-bitcoin-etf-application/" data-type="link" data-id="https://crypto.news/sec-postpones-hashdexs-spot-bitcoin-etf-application/" rel="noopener noreferrer nofollow">Hashdex Nasdaq</a> Ethereum ETF and the ARK 21Shares Ethereum ETF, signaling a pattern of hesitation by the regulatory body in approving crypto-based ETFs.
The anticipation surrounding a spot Ethereum ETF decision has been a topic of significant interest, mainly as major firms like <a href="https://crypto.news/sec-postpones-decision-on-blackrock-and-fidelitys-ethereum-spot-etf/" data-type="link" data-id="https://crypto.news/sec-postpones-decision-on-blackrock-and-fidelitys-ethereum-spot-etf/" rel="noopener noreferrer nofollow">Fidelity and BlackRock</a> have submitted applications for such products, which have also been delayed.
However, optimism has waned recently, with Bloomberg ETF analyst Eric Balchunas <a href="https://crypto.news/bloomberg-ethereum-etf-approval-may/" data-type="link" data-id="https://crypto.news/bloomberg-ethereum-etf-approval-may/" rel="noopener noreferrer nofollow">adjusting</a> his forecast for the likelihood of approval by May from approximately 70% to 35%.
The SEC’s series of postponements comes amid increased scrutiny of the crypto space. Notably, the Ethereum Foundation <a href="https://crypto.news/ethereum-investigated-state-authority/" rel="noopener noreferrer nofollow">disclosed</a> receiving a voluntary and confidential inquiry from an unspecified state authority.
Read more: <a href="https://crypto.news/grayscale-ethereum-trust-spot-etf/" rel="noopener noreferrer nofollow"> Grayscale looks to transform Ethereum Trust into spot ETF </a>

SEC delays decision on VanEck Ethereum ETF

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