SEC delays decision on Ethereum ETF to March 10, 2024, showing caution in crypto market review.
The SEC has delayed its decision on the iShares Ethereum Trust spot ETF until March 10, 2024, according to a recent filing. This ETF, filed by Nasdaq on November 21, 2023, aims to create an ETF that tracks Ethereum's price.
Originally, the SEC had 45 days to review the proposal, ending January 25, 2024, But they extended this period, indicating they need more time to assess the Ethereum ETF.
The proposed rule change, open for public comment since December 11, 2023, has received no comments yet. The SEC's extended review shows careful consideration of crypto ETFs in the changing regulatory environment.
BlackRock is taking the lead in adding digital assets to traditional investments, but the SEC's cautious stance highlights concerns about crypto's volatility and regulation.
The SEC's decision is closely watched, as approval would be a major step for cryptocurrency acceptance. Their careful review aims to address potential risks in the Ethereum ETF.
