SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March
The U.S. Securities and Exchange Commission has delayed its decision on BlackRock’s spot Ethereum exchange-traded fund (ETF) application to March.
According to the SEC’s latest filing, the new decision deadline for BlackRock’s spot Ethereum ETF is set to be March 10, 2024. The Commission will then approve, disapprove, or institute proceedings to determine whether the proposed rule change should be disapproved.
“Section 19(b)(2) of the Act4 provides that within 45 days of the publication of notice of the filing of a proposed rule change,” wrote the SEC, “Or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate.”
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” wrote the SEC.
In response to the postponement announcement, Bloomberg Intelligence ETF analyst James Seyffart stated that the delayed decision was within anticipation.
“Spot Ethereum ETF Delays will continue to happen sporadically over the next few months,” said Seyffart. “Next date that matters is May 23rd.”
Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd https://t.co/2zBBvHkrVk
— James Seyffart (@JSeyff) January 24, 2024
Fidelity’s spot Ethereum ETF was also postponed by the SEC. On Jan. 18, the Commission announced the delay in its filing and pushed the decision deadline to March 5.
“Completely expected,” Seyffart commented so regarding Fidelity’s application.
Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, expressed optimism about the
