SEC Delays Decision on BlackRock’s Spot Bitcoin ETF Application
The United States Securities and Exchange Commission (SEC) has postponed its decision on the spot Bitcoin ETF application submitted by BlackRock, a multinational asset manager.
New Date for BlackRock’s Spot Ethereum ETF Unveiled
The SEC has announced that the decision on BlackRock’s spot Ethereum ETF, known as the iShares Ethereum Trust, will be delayed until March 10, 2024. This information was disclosed in a filing published by the SEC.
BlackRock’s filing comes after the Nasdaq Global Select Market requested a rule change to list the shares of iShares Ethereum Trust on its platform. The proposed rule change has not received any public feedback so far.
The SEC stated that it needs more time to carefully consider the application before making a decision.
Prospects of ETH ETFs
The introduction of spot Bitcoin ETFs has sparked discussions about the potential for spot Ethereum ETFs in the United States.
Opinions are divided on whether the SEC will approve these products, but Commissioner Hester Peirce has expressed confidence in the agency’s ability to learn from past mistakes and approach Ethereum applications differently.
While approval is not guaranteed, proponents believe that with BlackRock involved, the chances of securing approvals for spot Ethereum ETFs are higher. Additionally, there are speculations about the possibility of an XRP spot ETF in the future.
Hot Take: SEC Delays Decision on BlackRock’s Spot Ethereum ETF
The SEC has decided to delay its decision on BlackRock’s spot Ethereum ETF, pushing the deadline to March 10, 2024. This delay follows a similar postponement of Fidelity Investments’ application.
The prospects of spot Ethereum ETFs in the United States are a topic of debate, with Commissioner Hester Peirce emphasizing that the SEC has learned from past mistakes and may take a different approach. While approval is uncertain, the involvement of BlackRock increases the chances of obtaining regulatory approval.
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