SEC Delays Decision On Fidelity ETF
The United States Securities and Exchange Commission (SEC) has announced that it is delaying its decision on Fidelity’s Spot Ethereum ETF proposal until the 5th of March. This delay comes as five other leveraged Bitcoin ETFs have been filed with the SEC for approval.
Decision On Expected Lines
Bloomberg ETF Analyst James Seyffart stated that the SEC’s decision to delay the Fidelity Ethereum ETF was expected. Some analysts believe that the SEC could approve multiple pending Spot Ether ETFs simultaneously, similar to what it did with Bitcoin ETFs. The recent approval of 11 spot Bitcoin ETFs by the SEC is seen as a positive indication for future cryptocurrency ETF approvals.
New Bitcoin ETF Filings
In addition to Fidelity’s proposal, Direxion has filed for five Bitcoin ETFs, joining ProShares and REX Shares who have also filed for leveraged Bitcoin-tracking ETFs. These filings indicate a growing interest in cryptocurrency ETFs and the potential for more options in the market.
Hot Take: SEC Delays Fidelity’s Ethereum ETF Decision
The SEC has decided to delay its decision on Fidelity’s Spot Ethereum ETF proposal until March. This delay is not surprising, as the SEC is taking its time to properly consider the proposed rule change and potential issues raised. Analysts believe that the SEC’s recent approval of spot Bitcoin ETFs is a positive sign for spot Ethereum ETFs. While Fidelity waits for a decision, Direxion and other companies have filed for their own Bitcoin ETFs, signaling increased interest in cryptocurrency ETFs. Overall, the SEC’s delay is part of the ongoing process of regulatory evaluation and decision-making in the cryptocurrency industry.
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