SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March

Blackrock Ethereum ETF SEC
Last updated:
Author
Author
Hongji Feng
About Author

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

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.

More Delays Expected in Spot Ethereum ETF Decision

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.”

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.

Goldman Sachs Optimistic About Ethereum ETF Approval

Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, expressed optimism about the potential approval of spot Ethereum ETFs in the coming months.

During a recent CNBC interview, McDermott emphasized the critical factor determining the approval, “A big question naturally centers around whether it’s perceived to be a security or not,” McDermott stated, adding, “I think that will ultimately be determined, and on whether it gets approved.”

McDermott noted the cost-effective nature of investing in Bitcoin through these ETFs compared to direct crypto investment.

“Seeing big, regulated institutions having that ability to issue Bitcoin ETFs is a very powerful statement for the market,” said McDermott.

More Articles

Bitcoin News
GameStop Plans to Invest in Bitcoin, Shares Surge 20% in Extended Trading
Sujha Sundararajan
Sujha Sundararajan
2025-02-14 05:50:46
Altcoin News
SEC Acknowledges Grayscale’s Filings to List XRP, Dogecoin ETFs
Shalini Nagarajan
Shalini Nagarajan
2025-02-14 05:38:36
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors