Ethereum

2024

<p class="is-style-lead">The U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" target="_blank" rel="noreferrer noopener">SEC</a>) has again delayed issuing a decision on Grayscale’s application to launch a spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) ETF.</p> 
<p>According to a message on the regulator’s <a href="https://www.sec.gov/files/rules/sro/nysearca/2024/34-99428.pdf" target="_blank" rel="noreferrer noopener">website</a>, the Commission requested public comments on how the regulator should handle Grayscale’s application. The SEC is interested in whether the ETH algorithm – Proof-of-Stake (PoS) and the concentration of a large volume of <a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a> in the hands of several individuals could make the fund vulnerable to fraud and manipulation.</p> 
<p>The next application deadline is in May. The company first applied to launch a spot Ethereum ETF in October 2023. The SEC published its first decision on the application on Dec. 5, 2023. The deadline was January 25, 2024.</p> 
<p>In addition to the application for a spot Ethereum <a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETF</a> from Grayscale, the Commission previously extended the consideration of applications from <a href="https://crypto.news/sec-postpones-decision-on-fidelitys-spot-ethereum-etf/" target="_blank" rel="noreferrer noopener">Fidelity</a> and <a href="https://crypto.news/sec-delays-decision-on-blackrocks-ethereum-spot-etf-launch/" target="_blank" rel="noreferrer noopener">BlackRock</a>. The new deadline for the other two applications will be in March.</p> 
<p>At the same time, journalists predict the adoption of spot Ethereum-ETFs by the summer of 2024. This will be preceded by a decision by the CFTC and the SEC to recognize that the second-largest cryptocurrency by capitalization does not comply with a security status.</p> 
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   <p lang="en" dir="ltr">Reporting on the timeline for a potential <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> ETF approval has turned up a plethora of different takes from ETF issuers, investment management firms and sources close to the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@SECGov</a>. <br><br>✨One <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> Spot ETF issuer with an ETH Spot ETF application says they’re confident the…</p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1749854141168398580?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 23, 2024</a>
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<p>Journalists suggested that such certainty could arise during the trial with Binance. They referred to the previous meeting, noting that <a href="https://crypto.news/tag/DAO/" target="_blank" rel="noreferrer noopener">DAO</a> tokens can be considered securities.</p> 
<p> Read more: <a href="https://crypto.news/us-etf-market-heats-up-with-ethereum-what-you-need-to-know/"> US ETF market heats up with Ethereum: what you need to know </a> </p>

SEC delays Grayscale spot Ethereum ETF to May

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