The US SEC Delays Decision on Ethereum ETFs
The United States Securities and Exchange Commission (SEC) has postponed its decision on several Ether (ETH) exchange-traded funds (ETFs) until May 2024. The agency has delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a strategy to convert its Ethereum Trust to a spot Ethereum ETF. The SEC stated that it needs further public input before deciding whether or not to list these ETFs.
Expected Delays and Final Decision Date
According to Bloomberg ETF analyst James Seyffart, these delays were anticipated and were expected to arrive before December 25. The final date for the SEC’s decision on these ETFs will be in late May.
Spot Bitcoin ETF Approval Possibility
While waiting for the SEC’s decision on Ethereum ETFs, the market is focused on whether the agency will approve 13 spot Bitcoin (BTC) ETFs. Analysts predict that the SEC could decide as early as January 10, with chances of approval estimated at 90%. The approval of a spot Bitcoin ETF would provide institutional access to Bitcoin and has contributed to a positive market sentiment. In the last six months, Bitcoin’s price has grown by over 44%, while Ether’s price has increased by 16.8% within the same timeframe.
Hot Take: SEC Delays Decision on Ethereum ETFs, While Focus Remains on Spot Bitcoin ETF Approval
The US Securities and Exchange Commission has decided to postpone its ruling on several Ether exchange-traded funds (ETFs) until May 2024. This delay affects the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The SEC has requested additional public input to determine whether these ETFs should be listed. While investors anticipated these delays, they are eagerly awaiting the final decision in late May.
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