The SEC Delays Decision on Grayscale’s Ethereum ETF
The United States Securities and Exchange Commission (SEC) has postponed its decision regarding the approval or disapproval of a spot Ethereum exchange-traded fund (ETF) offered by asset manager Grayscale.
In a notice issued on December 5, the SEC stated that it would extend the timeline for considering a proposed rule change that would enable NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. This announcement followed an appellate court’s order in October for the SEC to review Grayscale’s Bitcoin ETF offering.
The SEC explained that it requires additional time to thoroughly assess the proposed rule change and address the raised concerns. The new deadline for the SEC’s decision is set for January 25, 2024.
Hot Take: SEC Delays Highlight Regulatory Uncertainty
The SEC’s delay in approving or disapproving Grayscale’s Ethereum ETF reflects ongoing regulatory uncertainty in the cryptocurrency market. While investors eagerly anticipate regulatory clarity, these delays prolong the wait and add to the overall uncertainty surrounding crypto investments.
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