The Securities and Exchange Commission (SEC) has decided to extend the review period for the Fidelity spot Ethereum ETF. Instead of making a decision by January 20, 2024, the SEC has postponed the deadline to March 5, 2024. This delay specifically impacts the proposal by Cboe BZX Exchange to list and trade shares of the Fidelity spot Ethereum ETF.
If approved, this ETF would be a significant step in bringing Ethereum-based investments into mainstream financial markets. Ethereum’s blockchain technology has gained attention from investors and tech enthusiasts alike. The purpose of this fund is to provide a regulated investment vehicle for Ethereum, expanding investment options in the cryptocurrency space. However, Raoul Pal, CEO of Real Vision, believes that spot Ethereum ETFs will not attract institutional demand.
The SEC’s decision to extend the review period reflects its cautious approach to digital assets. The Commission wants to thoroughly evaluate the implications of introducing such a fund into the market, including investor protection and market integrity. This extension gives the SEC more time to assess the proposed rule change and address any potential issues.
Hot Take: SEC Extends Review Period for Fidelity Spot Ethereum ETF
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