SEC Delays Decision on Ethereum ETF
The US Securities and Exchange Commission (SEC) has once again delayed its decision on whether to approve an Ethereum exchange-traded fund (ETF). The SEC has ordered fresh public comments on the matter, specifically asking for input on Ethereum’s proof of stake mechanism and the concentration of control or influence by a few individuals or entities. The agency also inquired about Ethereum futures products. Comments are due in 21 days, with a rebuttal period of 35 days. This is not the first delay for proposed spot Ethereum funds, as decisions on other funds from BlackRock and Fidelity have also been postponed recently.
Expert Opinions Vary
Crypto experts have mixed opinions on the likelihood of an approved spot Ethereum ETF. Some believe that approval could come as early as May, following the recent approval of spot bitcoin ETFs. However, Bloomberg Intelligence ETF analyst James Seyffart predicts that delays for spot Ethereum ETFs will continue sporadically over the next few months. He highlighted May 23rd as an important date to watch for further developments.
Hot Take: SEC Continues to Prolong Decision on Ethereum ETF
The SEC’s decision to delay its ruling on the Ethereum ETF has created more uncertainty in the cryptocurrency market. While some remain hopeful for an approved ETF, others anticipate ongoing delays. This latest postponement raises questions about the potential risks associated with Ethereum’s proof of stake mechanism and concentrated control. As investors eagerly await a final decision, it is clear that regulatory concerns continue to impact the progress of cryptocurrency investment products.
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