SEC Deferred Ethereum ETF Applications

SEC, has delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity. Here are the details!

SEC, Deferred the Decision

The U.S. Securities and Exchange Commission (SEC), has postponed its decision to approve or reject the spot Ethereum exchange traded funds (ETFs) of BlackRock and Fidelity, two of the world’s largest investment companies.

Before making the decision, the SEC, which has the right to delay up to three times had first postponed its decision on BlackRock and Fidelity’s spot Ethereum ETF applications shortly after the spot Bitcoin ETF applications were approved.

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Postponement was Expected

Market commentators and ETF analysts had predicted that the SEC would announce its decision on Ethereum ETF applications in May at the earliest.

Bloomberg ETF Analyst James Seyffart, on February 7, after the SEC’s first postponement news, announced via his X (formerly known as Twitter) account that more delay news would come and the only important date for spot Ethereum ETFs was May 23rd, which is the deadline for VanEck’s application.

SEC just delayed @InvescoUS & @galaxyhq‘s #Ethereum ETF. 100% expected and more delays will continue to happen in coming months.

The only date that matters for spot #ethereum ETFs at this time is May 23rd. Which is @vaneck_us‘s final deadline date pic.twitter.com/gkVZL2QuPK

— James Seyffart (@JSeyff) February 6, 2024

Ethereum Continues to Rise!

The impact of the Ethereum spot ETF application process continues positively to the market.

Since the date of the first postponement news, Ethereum (ETH) has managed to rise to about $3780, gaining approximately 60% in value. This level was last seen in January 2022.

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