SEC Pushes Back BlackRock’s Spot Ether ETF Decision
The SEC has delayed BlackRock’s proposal for a spot in Ethereum ETF due to the need for more time to review the proposal. The SEC has designated a longer period for action on the proposed rule change to consider the issues raised.
This delay is the first of many delays the SEC could use during a 250-day window. BlackRock applied for its spot Ethereum ETF, known as the iShares Ethereum Trust, late last year, joining other institutions with similar interests.
Bloomberg Intelligence ETF analyst James Seyffart expects the SEC to continue its delay tactics, as it did with bitcoin ETFs last year. Bloomberg Eric Balchunas believes the regulator could make a final decision for all applications in May, as most applicants have deadlines of May, June, and August.
Crypto experts have expressed mixed feelings about the prospect of a spot Ethereum ETF, with some believing approval may come during the second quarter of the year.
(With inputs from Shikha Singh)
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