SEC Delays Ethereum ETF Decisions to May
19 Dec, 2023 ● Coin news
Regarding a number of Ether (ETH) exchange-traded funds (ETFs), the United States Securities and Exchange Commission (SEC) is delaying its decision until May 2024.
The agency postponed making a decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF in several regulatory filings dated December 18.
While Grayscale's Ethereum Futures ETF is perceived as a "trojan horse" that would coerce the SEC into enabling Grayscale to convert its Ethereum Trust to a spot Ethereum ETF, the Hashdex Ether ETF seeks to hold both spot Ether and futures contracts.
The agency announced in the filings that it was starting the process of getting more public feedback on whether or not the ETFs ought to be listed.
Additionally, the agency postponed making a decision regarding the VanEck spot Ethereum ETF as well as the spot Ethereum ETF submitted by 21Shares and Cathie Wood's ARK Invest.
These delays were anticipated, according to James Seyffart, an analyst for Bloomberg ETFs, and were supposed to arrive before December 25.
He also stated that the regulator's final decision-making date regarding the ETFs will be in late May.
The SEC has not yet approved a spot or mixed-type product, despite having previously approved Ethereum futures ETFs.
Sources:
https://cointelegraph.com/news/sec-delays-ethereum-etf-decision-spot-futures-may-final-date
https://www.sec.gov/files/rules/sro/nasdaq/2023/34-99200.pdf
https://www.sec.gov/files/rules/sro/cboebzx/2023/34-99195.pdf
https://www.sec.gov/files/rules/sro/cboebzx/2023/34-99196.pdf
