SEC Delays BlackRock's Ethereum Spot ETF Proposal
The US Securities and Exchange Commission has once again postponed the decision deadline on BlackRock's Ethereum spot ETF proposal.
SEC Delays BlackRock's Ethereum Spot ETF Proposal
According to a notice posted early on the morning of January 25, the US Securities Commission (SEC) has delayed the deadline for a decision to approve or reject the proposal.ETF Ethereumspot of the American asset management groupBlackRock.
The SEC announcement said the commission needs more time to make the necessary assessments of the Ethereum spot ETF.
The new deadline will be pushed back to March 10, and the final deadline forcing the SEC to make a decision will be August 2024.
Last week, the SEC also moved the deadline for Fidelity's Ethereum spot ETF proposal. Bloomberg analyst James Seyffart said that the market will continue to see more news that the SEC will postpone its review of the Ethereum ETF until the final deadline.
As reported by Coin68,BlackRock has submitted an application to create an Ethereum spot ETF to the SECin November 2023, confident that this proposal will be approved like the Bitcoin spot ETF. The Chairman of BlackRock is MrLarry FinksaidThere is great demand for ETFsof cryptocurrencies like Bitcoin and Ethereum.
Ethereum spot ETF proposals are pending SEC approval. Source: Bloomberg (November 30, 2023)
The sentiment in the cryptocurrency market at the present time is also quite optimistic about the prospect of an Ethereum spot ETF, especially when the SEC at the end of last year announcedApproval for Ethereum futures ETF series, then pass it onETF Bitcoin spotmid-January.
Even so, SEC ChairmanGary Genslerinrecent statementsalways affirms that the securities commission only accepts ETFs for Bitcoin because it has been proven not to be a security, while other cryptocurrencies do not.
