The Securities and Exchange Commission (SEC) of the United States announced that it will defer making a decision regarding Grayscale’s proposed Ethereum spot ETF.
The US Protections and Trade Commission (SEC) declared it will postpone its choice on Grayscale’s proposed Ethereum spot ETF. A rule change that would enable NYSE Arca to list and trade shares of the Grayscale Ethereum Trust needs more time to be evaluated by the SEC.
The SEC has distributed a more extended period to assess the proposed rule change and has set January 25, 2024, as the cutoff time for its choice or the commencement of procedures to decide its objection. The SEC underscored the significance of having adequate chance to completely consider the proposition and the worries raised.
A spot BTC or ETH ETF on a U.S. exchange has not yet been approved by the SEC, despite the fact that investment vehicles linked to crypto futures have been approved in the past. Bloomberg ETF investigator James Seyffart estimated that assuming the commission supports a spot BTC ETF, it might actually continue with endorsing assets from different firms at the same time.
In October, Grayscale filed to transform shares of its Grayscale Ethereum Trust into an Ether ETF. In addition to BlackRock, Hashdex, ARK 21Shares, Invesco Galaxy, VanEck, and Fidelity, the company is awaiting a decision from the SEC regarding their applications for spot crypto ETFs.
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