SEC delays decision on VanEck spot Ethereum ETF, asks for public comments
In a document filed on Wednesday, the SEC said it would take until May 23, 2024 decide on whether to approve VanEck’s spot ether ETF and asked the public for comments. The delays come as the Ethereum Foundation said it received a voluntary and confidential inquiry from an unspecified state authority, according to reporting from The Block.
In a document filed on Wednesday, the agency said it would take until May 23, 2024 to make a decision on the ETF and asked the public for comments.
"The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1, and the issues raised therein," the SEC said.
This comes a day after the SEC delayed making a decision on the Hashdex Nasdaq Ethereum ETF and the ARK 21Shares Ethereum ETF.
Future of a spot Ethereum ETF looks iffy
Big-name firms, including Fidelity and BlackRock , have applied for a spot ether ETF over the last few months. Optimism for the SEC approving such a product has steadily fallen over the past few weeks. Bloomberg ETF analyst Eric Balchunas recently lowered his estimate of the chances of a spot Ethereum ETF approval by May from about 70 percent to 30 percent.
The delays come as the Ethereum Foundation said it received a voluntary and confidential inquiry from an unspecified state authority, according to reporting from The Block.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gold majors are out of debt and will have to start buying, Lundin says
Chime Stride Bank Acquisition Seals $590M Full-Bank Ownership
Risk of "Major Capital Repatriation" from Japan Intensifies! Japanese Bond Yields Approach 30-Year High, Over $1 Trillion in U.S. Treasury Holdings Under Scrutiny
As Japanese government bond yields rise to their highest level in nearly 30 years, a long-discussed risk in global markets is drawing renewed attention: whether Japan's massive overseas capital might start to flow back into the domestic market.
Overnight US Stock Market: All three major indexes fall, Dow drops over 600 points; SK hynix (SKHY.US) rises 4.8%
At market close, the Dow Jones Index fell by 626.72 points, down 1.17%, to 52,787.53 points; the S&P 500 Index dropped 44.98 points, down 0.58%, to 7,673.62 points; and the Nasdaq Composite Index lost 85.58 points, down 0.32%, closing at 26,421.41 points.
Crypto prices
More
