U.S. SEC Delays Decision on Grayscale and BlackRock Ethereum ETF Applications
The U.S. Securities and Exchange Commission (SEC) has announced that it needs more time to consider the applications for Ethereum exchange-traded funds (ETFs) from asset managers Grayscale Investments and BlackRock. The SEC has extended the period to decide on the proposed rule change for Grayscale’s Ethereum Trust (ETHE) product to convert it into an ETF. Additionally, the SEC is postponing its decision on Nasdaq’s application to list and trade BlackRock’s iShares Ethereum Trust until March 10th instead of January 25th.
Last week, the SEC also delayed its decision on Fidelity’s spot market Ethereum ETF until March 5th. The SEC stated that it requires additional time to thoroughly evaluate the proposed rule changes and address any concerns raised.
Hot Take: Further Delays in Approving Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has decided to extend the evaluation period for Grayscale Investments and BlackRock’s applications for Ethereum exchange-traded funds (ETFs). The delay in approving these ETFs highlights the cautious approach taken by regulatory authorities towards cryptocurrency investment products. While the demand for crypto ETFs continues to grow, regulators are taking their time to ensure they thoroughly assess potential risks and investor protection measures. These delays may disappoint some investors who were hoping for quicker approval of these investment products, but they also reflect the SEC’s commitment to making informed decisions in the best interest of market participants.
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