SEC Postpones Decision on Grayscale’s Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) has extended the review period for Grayscale’s spot Ethereum exchange-traded fund (ETF) application, setting a new deadline for January 2024. The SEC stated that this postponement is to allow for a longer period of consideration of the proposed rule change and related issues. By January 25, 2024, the SEC will either approve or disapprove, or initiate proceedings to determine whether to disapprove Grayscale’s proposed Ethereum ETF application.
Meetings and More Delayed Decisions
The SEC has been holding meetings with major financial institutions, including Grayscale and BlackRock, regarding their crypto ETF applications. The agency is taking a cautious approach towards integrating digital assets into mainstream financial products. This is evident in their extended deadline for Grayscale’s Ethereum ETF, which follows a pattern of diligent assessment of investment choices in the U.S. market.
The SEC has previously delayed decisions on various ETF filings, including those from Global X, Franklin Templeton, and Hashdex.
Hot Take: SEC Continues to Evaluate Crypto ETFs
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s spot Ethereum exchange-traded fund (ETF) application, extending the review period until January 2024. This delay reflects the SEC’s cautious approach towards integrating digital assets into mainstream financial products. The SEC has been conducting meetings with major financial institutions, including Grayscale and BlackRock, to discuss their crypto ETF applications. This extended deadline for Grayscale’s Ethereum ETF follows a pattern of careful evaluation by the SEC. While no spot Bitcoin or Ethereum ETF applications have been approved by the SEC yet, industry experts believe that once one is approved, multiple applications may be approved simultaneously.
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