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SEC expectedly postpones decision on BlackRock spot Ethereum ETF until March

Regulation: SEC expectedly postpones decision on BlackRock spot Ethereum ETF until March

On January 24, 2024, the U.S. Securities and Exchange Commission (SEC) decided to push back the date for making a decision on BlackRock's spot Ethereum-ETF.

Instead of the initial deadline, the new review deadline has been set for March 10, 2024. In a statement, the regulator explained that they deemed it necessary to extend the deadline in order to thoroughly evaluate both the proposal itself and the concerns that have been raised.

James Seyffarth, an analyst from Bloomberg Intelligence, shared his thoughts on the SEC's decision, stating that delays regarding the Ethereum-ETF are expected to occur in the coming months. He also highlighted May 23 as the next significant date to watch out for.

As a reminder, BlackRock submitted an application to the SEC in November 2023, seeking approval to establish a spot Ethereum-ETF.

It's worth noting that the #SEC had previously postponed the decision date for #Fidelity's spot Ethereum-ETF as well.

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