SEC delays ruling on BlackRock’s Ethereum ETF until March
Key Takeaways
- The SEC delayed its decision on BlackRock’s Ether ETF, citing the need for more time.
- A final decision on the ETFs is expected by August 7, with analysts predicting a May resolution for all pending Ether ETFs.
- Opinions on the SEC’s stance on cryptocurrency ETFs vary, with some in the industry remaining optimistic while others are skeptical.
The U.S. Securities and Exchange Commission (SEC) has extended the review period for BlackRock’s proposed spot Ethereum (ETH) exchange-traded fund (ETF).Change the decision date to one day before the original due date.
SEC Deputy Secretary Sherry Haywood filed the following on January 24: Additional time required Consider proposed rule changes.
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This acting The initial stages of a series of possible delays. The SEC may implement periods longer than 240 days. This decision comes up Nearly 45 days after Nasdaq applied for iShares Ethereum Trust Submitted December 11 on behalf of BlackRock.
that much The SEC must finalize its decision by August 7. Learn about the BlackRock Ether ETF.
Analysts are closely monitoring the situation, and Bloomberg ETF expert Eric Balchunas expects a comprehensive decision on all pending spot Ether ETFs. Until May.
Final decision deadlines for other Ether ETF applicants such as VanEck, Ark 21Shares, Grayscale Investments, Invesco Galaxy, and Fidelity Investments are in May, June, and August.
James Seyffart, another Bloomberg ETF analyst, highlights the importance of May 23rd. We expect to see intermittent delays in the spot Ether ETF in the coming months..
However, opinions on the SEC’s position on cryptocurrency ETFs vary within the industry. SEC Commissioner Hester Peirce, nicknamed ‘Crypto Mom’, recently confirmed: There may not be a legal fight needed to get a spot Ether ETF approved..
In order for us to get the right approach, we shouldn’t need a court to tell us that our approach is ‘arbitrary and capricious’.
By contrast, Mark Yusko, CEO of Morgan Creek Capital, remains skeptical. The probability of an approved spot Ether ETF is less than 50%.Citing the SEC’s perceived hostility toward the cryptocurrency sector.
While the Ethereum ETF is experiencing difficulties, The SEC recently approved 10 spot Bitcoin ETFs..
The SEC’s delay in deciding on BlackRock’s Ether ETF reflects the complexity of the issue and the regulator’s cautious approach to cryptocurrency products. As the industry awaits the SEC’s final ruling, the outcome could have major implications for the future of cryptocurrency ETFs.
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