Ethereum

Spot

<div class="cryptonews">
 <p class="is-style-lead">The U.S. Securities and Exchange Commission (SEC) has again delayed issuing a decision on Grayscale’s application to launch a spot Ethereum (ETH) ETF.</p>
 <p>According to a message on the regulator’s website, 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 Ethereum 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 ETF from Grayscale, the Commission previously extended the consideration of applications from Fidelity and BlackRock. 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 $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
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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 DAO tokens can be considered securities.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-delays-grayscale-spot-ethereum-etf-to-may-tbt77823.html">https://thebittimes.com/sec-delays-grayscale-spot-ethereum-etf-to-may-tbt77823.html</a></p>

SEC delays Grayscale spot Ethereum ETF to May

TheBitTimes

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