SEC Postpones its Decision on BlackRock’s Spot Ethereum ETF

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The SEC’s delayed decision on BlackRock’s Ether ETF application comes at the same time as the approval of 11 Bitcoin exchange-traded funds (ETFs), potentially paving the way for a similar instrument for Ether.

The SEC has granted a longer period, until March 10, 2024, to review the proposed rule change, citing the need for sufficient time to consider it.

The filing was made by the agency’s Assistant Secretary, Sherry Haywood, one day before the January 25 deadline. BlackRock, a $9.1 trillion asset management firm, filed for the approval of iShares Ethereum Trust on December 11, 2023.

This is the first delay the SEC can exercise in a 240-day window. Other companies with pending spot Ether ETF applications, aside from BlackRock, include VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex.

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