Ethereum

Spot

<h4 style="color: #252525;"><strong><span style="color: #252525;">The SEC has reportedly pushed back on deciding on BlackRock’s proposal for a spot in Ethereum ETF. The US regulator said it needed more time to review the proposal.</span></strong></h4>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">The SEC explained in its filing, “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.”</span></p>
<h5><strong>SEC Postpones Ruling on BlackRock’s Proposed Spot Ethereum ETF</strong></h5>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Wednesday’s <a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-99419.pdf" target="_blank" rel="noopener noreferrer nofollow">delay</a> is the first of many delays the SEC could use during a 250-day window. BlackRock applied for its spot Ethereum ETF, known as the iShares Ethereum Trust, late last year, joining other institutions with similar interests.&nbsp;</span></p>
<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 <a href="https://t.co/2zBBvHkrVk" rel="noopener noreferrer nofollow">https://t.co/2zBBvHkrVk</a></p>
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1750247415137833151?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 24, 2024</a></p>
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<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Bloomberg Intelligence ETF analyst, James Seyffart, took to X to share his views on the spot Ethereum ETF applications. Seyffart expects the SEC to continue its delay tactics, as it did with bitcoin ETFs last year.</span></p>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">However, another Bloomberg analyst, Bloomberg Eric Balchunas, believes the regulator could likely make a final decision for all applications in May, as most of the applicants have a deadline of May, June, and August.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">For those wondering.. the SEC isn't in a legal position to deny. Why? Because they approved a commodities futures ETH ETF just months ago. They've literally already consented to Ethereum being a commodity by way of approval. This is not opinion or emotion.. this is fact.</p>
 <p>— Etherean Maximus <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2694.png" alt="⚔" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@EthereanMaximus) <a href="https://twitter.com/EthereanMaximus/status/1750251629134356958?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 24, 2024</a></p>
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<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">BlackRock and other institutions faced an uphill battle in securing the SEC’s approval for a <a href="https://www.altcoinbuzz.io/cryptocurrency-news/spot-bitcoin-etfs-week-1-performance-overview/" target="_blank" rel="noopener noreferrer nofollow">spot Bitcoin ETF.</a> However, Hester Pierce, an SEC Commissioner, assured applicants that a legal battle won’t be necessary to get the SEC to approve a spot Ethereum ETF.</span></p>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">She wrote, “We shouldn’t need a court to tell us that our approach is ‘arbitrary and capricious’ for us to get it right.”</span></p>
<h5><strong>Crypto Enthusiasts Express Mixed Feelings</strong></h5>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Crypto experts have expressed mixed feelings about the prospect of a spot ether ETF. Some believe approval may come during the second quarter of the year. However, Gary Gensler, the chair of the SEC, in a recent media briefing, shot down the concept of other cryptocurrency-linked exchange-traded products. </span></p>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">He said, “As I said two weeks ago, that which we did about bitcoin exchange-traded products is cabined to this one commodity non-security and shouldn’t be read to be anything other than that.”</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">The SEC delays the approval of BlackRock Ethereum spot ETF.</p>
 <p>You and I know it can be delayed multiple times but it’s invevitable.</p>
 <p>Solana ETFs would be next<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f62e-200d-1f4a8.png" alt="😮‍💨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/kEigMNmMTI" rel="noopener noreferrer nofollow">pic.twitter.com/kEigMNmMTI</a></p>
 <p>— Loretta Crypto (@LorettaKrypto) <a href="https://twitter.com/LorettaKrypto/status/1750251414071214442?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 24, 2024</a></p>
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<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Interestingly, the president and COO of ARK Invest, <a href="https://www.linkedin.com/in/tom-staudt-94402826/" target="_blank" rel="noopener noreferrer nofollow">Tom Staudt</a>, is optimistic about the possibility of Ethereum ETFs. Staudt believes the progressive communication with regulators is a positive sign, noting that “this is not the same place where we were on the timeline with Bitcoin at this stage.”</span></p>
<p style="color: #252525;"><span style="font-weight: 400; color: #252525;">Staudt also points out that the successful approval of spot Bitcoin ETFs has contributed to the increased legal, operational, and philosophical knowledge of potential issuers.</span></p>
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<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/sec-delays-decision-on-blackrocks-spot-ethereum-etf/" rel="noopener noreferrer nofollow">SEC Delays Decision on BlackRock’s Spot Ethereum ETF</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

SEC Delays Decision on BlackRock’s Spot Ethereum ETF

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