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SEC Delays Decision on Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the spot Ethereum ETFs applications submitted by Hashdex and ARK 21Shares. The regulatory body is taking additional time to consider the potential impact and regulatory concerns associated with the proposed Ethereum ETFs.
Extended Review Period
The Commission finds it necessary to designate a longer period to issue an order approving or disapproving the proposed rule change to thoroughly evaluate the applications and related issues. The SEC has set May 30, 2024 as the new decision date.
Bloomberg Analysts’ Predictions
Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas are not optimistic about the approval of ETH ETFs by the May deadline. They believe there is a 35% chance of approval, citing lack of bullish indicators compared to Bitcoin ETF approvals.
Seyffart expressed a shift in attitude towards ETH ETF approvals, anticipating a denial on May 23rd due to the SEC’s limited engagement with Ethereum ETF applicants.
Potential Further Delays
Seyffart also mentioned that the SEC might delay decisions on more Ethereum ETF applications in the near future. VanEck, Ark/21Shares, Hashdex, and Grayscale are expected to face delays within the next 12 days.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
