SEC Seeks Public Comments On Ethereum ETF
The Securities and Exchange Commission (SEC) has extended its decision timeline on BlackRock’s spot Ethereum ETF proposal and another proposal by crypto firm Fidelity.
The SEC can delay decisions up to three times before reaching a final decision, with the first deadline in May. The SEC is opening the approval of Ethereum ETFs to public comments to address the sufficiency of the proposal.
The SEC has raised concerns on the “nature of the underlying assets” held by the iShares Ethereum Trust. Comments for both Fidelity and BlackRock are due in the next 21 days, with rebuttals due in 35 days.
The SEC framed its concerns on the matter with the question of “are there particular features related to ether and its ecosystem, including its proof of stake consensus mechanism and concentration of control or influence by a few individuals or entities, that raise unique concerns about ether’s susceptibility to fraud and manipulations?”
(With inputs from Shikha Singh)
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