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    SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March

    • January 25, 2024

    The U.S. Securities and Exchange Commission has delayed its decision on BlackRock’s spot Ethereum exchange-traded fund (ETF) application to March.

    According to the SEC’s latest filing, the new decision deadline for BlackRock’s spot Ethereum ETF is set to be March 10, 2024. The Commission will then approve, disapprove, or institute proceedings to determine whether the proposed rule change should be disapproved.

    “Section 19(b)(2) of the Act4 provides that within 45 days of the publication of notice of the filing of a proposed rule change,” wrote the SEC, “Or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate.”

    “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” wrote the SEC.

    More Delays Expected in Spot Ethereum ETF Decision


    In response to the postponement announcement, Bloomberg Intelligence ETF analyst James Seyffart stated that the delayed decision was within anticipation.

    “Spot Ethereum ETF Delays will continue to happen sporadically over the next few months,” said Seyffart. “Next date that matters is May 23rd.”

    Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd https://t.co/2zBBvHkrVk

    — James Seyffart (@JSeyff) January 24, 2024

    Fidelity’s spot Ethereum ETF was also postponed by the SEC. On Jan. 18, the Commission announced the delay in its filing and pushed the decision deadline to March 5.

    “Completely expected,” Seyffart commented so regarding Fidelity’s application.

    Goldman Sachs Optimistic About Ethereum ETF Approval


    Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, expressed optimism about the potential approval of spot Ethereum ETFs in the coming months.

    During a recent CNBC interview, McDermott emphasized the critical factor determining the approval, “A big question naturally centers around whether it’s perceived to be a security or not,” McDermott stated, adding, “I think that will ultimately be determined, and on whether it gets approved.”

    McDermott noted the cost-effective nature of investing in Bitcoin through these ETFs compared to direct crypto investment.

    “Seeing big, regulated institutions having that ability to issue Bitcoin ETFs is a very powerful statement for the market,” said McDermott.

    The post SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March appeared first on Cryptonews.

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      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
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