The US Securities and Exchange Commission (SEC) has decided to extend the decision deadline for Fidelity's spot Ethereum-ETF.
Instead of the original date, the new review deadline has been set to March 5, 2024. This move by the SEC will give them enough time to thoroughly evaluate the proposed rule change, according to their official statement.
According to Bloomberg Intelligence analyst James Seyffarth, the SEC's decision to postpone the deadline was not surprising as it was widely expected. The postponement gives the SEC the necessary time to thoroughly review all aspects of the filing.
Fidelity #ethereum ETF delayed just now. Completely expected. Dates that really matter are late May in my view. https://t.co/8mvhcPRaS7
— James Seyffart (@JSeyff) January 18, 2024
It's worth noting that #Fidelity Investments filed its application for an Ethereum-ETF back in November 2023. This application is now subject to an extended review period.
Similarly, #SEC had previously postponed the decision date for Invesco's spot Ethereum-ETF. The new review deadline for Invesco's application is now set for February 6, 2024.
By extending the review dates for Fidelity and #Invesco's applications, the SEC is demonstrating its commitment to conduct a comprehensive evaluation of these proposed #Ethereum-ETFs. This decision allows for a more thorough analysis, ensuring that all relevant factors are taken into account before a final decision is made.
