BlackRock spot ether ETF decision delayed by SEC

The delay was largely expected after the SEC also delayed Fidelity’s proposal

share


The Securities and Exchange Commission delayed a decision on BlackRock’s proposed spot ether ETF. 

The delay pushes any decision on the proposed fund to March 10, according to an official release by the agency. 

The delay was largely expected, with the SEC also delaying decisions on Fidelity’s proposed fund on Jan. 18. 

Read more: After spot bitcoin ETF approval, eyes shift to ether fund decision

“Spot Ethereum ETF Delays will continue to happen sporadically over the next few months. Next date that matters is May 23rd,” Bloomberg Intelligence analyst James Seyffart said.

Loading Tweet..

The decision comes just weeks after the SEC approved nearly a dozen spot bitcoin ETFs. Three commissioners — Hester Peirce, Mark Uyeda and Chair Gary Gensler — voted in favor of the ETFs. 

Following Grayscale’s legal victory in August, the SEC was compelled to reevaluate its application for a spot bitcoin ETF conversion. Despite this progress, the status of ether ETFs continues to be unclear.

In an interview on Tuesday, Peirce said that the SEC would “apply precedent” to any decisions on spot ether ETFs. She further noted that the agency doesn’t plan to repeat history and face another court case in order to approve such funds. 

“I’m not holding my breath,” Lara Crigger, editor-in-chief at VettaFi previously told Blockworks about ether ETF approval. 

However, Seyffart previously said that he was more bullish about the future of ether ETFs. 

“If [Gensler] goes after ETH, it’s not just going to be a lot of these industry players; it will also be the CFTC that he has to contend with, and it’s just not worth it,” he told On the Margin podcast.The delay was largely expected after the SEC also delayed Fidelity’s proposal

In his press release following bitcoin ETF approvals, Gensler noted that the decision “should in no way signal the Commission’s willingness to approve listing standards for crypto asset securities.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

article-image

Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million