SEC postpones decision on Ethereum spot ETFs

SEC postpones decision on Ethereum spot ETFs

The US Securities and Exchange Commission (SEC) has again postponed decisions regarding the approval of Ethereum spot ETFs. This move came after the approval of Bitcoin spot ETFs in January, which prompted major asset managers such as Grayscale, Franklin Templeton and BlackRock to seek approval of Ethereum ETFs. The SEC extended the deadlines for reviewing applications from various companies, including Hashdex, Ark 21Shares, Grayscale and Franklin Templeton.

However, the approval of Ethereum spot ETFs is on hold for now. The SEC needs more time to review the applications more thoroughly. Back in March, decisions on two Ethereum ETFs were postponed, with new deadlines set until the end of May. The SEC has now also postponed the decision on the Grayscale Ethereum Trust, allowing a final decision to be made until June 23rd.

Analysts express skepticism about the approval of Ethereum spot ETFs. Bloomberg's James Seyffart expressed concerns about the SEC's lack of communication with issuers. Bloomberg's Eric Balchunas noted that the chances of approval are very slim, while VanEck's Jan van Eck and Bitwise's Matt Hougan denounced delaying tactics by the SEC.

Uncertainty surrounding the approval of Ethereum spot ETFs remains as the SEC continues to carefully review decisions regarding rule changes and approvals. Market participants and investors are closely following developments as the approval of Ethereum ETFs could have a significant impact on the cryptocurrency market.