The US Securities and Exchange Commission (SEC) has postponed the decision date on the spot Ethereum ETF application requested by the giant investment company Fidelity.
The SEC announced the decision date on Fidelity’s request to issue a spot Ethereum exchange-traded fund (ETF), which manages $4.5 billion in assets. March 5, 2024He postponed it to . As a justification for the postponement decision, the regulatory body stated that More time is needed to examine the details He suggested:
The Commission has deemed it appropriate to issue a decision at a later date in order to have sufficient time to consider the proposed rule change and the issues raised herein.
Fidelity submitted the spot Ethereum ETF application in question. in November last year he had done. During the application process, the company cited a court decision that found that the SEC’s decision to allow future Ethereum ETF products but not spot Ethereum ETF products was not based on a reasonable explanation.
About development in the statement experienced Bloomberg ETF analyst James Seyffartpostponement decision surprise is not stated:
Fidelity Ethereum ETF has been postponed for now. This is completely expected. In my opinion, the really important dates mark the end of May.
Bloomberg analysts say spot Ethereum ETF applications are coming soon There is a 70% chance that it will be approved in May. He made a promising prediction. Besides Fidelity BlackRock Big names in the industry, such as, also have applications for spot Ethereum ETF. SEC also made spot Bitcoin ETF decisions After months of delay He approved.
According to CoinGecko data, in the last 24 hours 2.8% Ethereum losing value at the time of writing from $2,461 is being traded.