<\/p>\n
The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024.<\/p>\n
In several Dec. 18 regulatory filings, the agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF.<\/p>\n
The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale\u2019s Ethereum Futures ETF is\u00a0seen as a \u201ctrojan horse\u201d that would corner the SEC into allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF.<\/p>\n
In the filings, the agency said it was instituting proceedings that involve gathering further public input around whether or not the ETFs should be listed.<\/p>\n
The agency also pushed back its decision on the VanEck spot Ethereum ETF and the spot Ethereum ETF lodged by Cathie Wood\u2019s ARK Invest and 21Shares.<\/p>\n
\nUpdate: There it is. Delay order for @ARKInvest<\/a> and @21Shares<\/a> on their spot #Ethereum<\/a> ETF filing. Expected and was due by December 26th. Final date for these are in late May. https:\/\/t.co\/Zs6Zsd4uKj pic.twitter.com\/9u0nNiPD9O<\/a><\/p>\n
\u2014 James Seyffart (@JSeyff) December 18, 2023<\/a><\/p><\/blockquote>\n
According to Bloomberg ETF analyst James Seyffart, these delays were \u201cexpected\u201d and were due to arrive sometime before Dec. 25.<\/p>\n
He added that the final date the regulator can decide on the ETFs will arrive in late May.<\/p>\n
\nUPDATE: SEC Going early with delay orders for @hashdex<\/a> & @Grayscale<\/a> #Ethereum<\/a> ETF filings. Neither were due until Jan 1, 2024.<\/p>\n
Maybe just clearing the queue before the holidays? pic.twitter.com\/LdZQxGh43L<\/a><\/p>\n
\u2014 James Seyffart (@JSeyff) December 18, 2023<\/a><\/p><\/blockquote>\n
Despite the SEC having approved Ethereum futures ETFs in the past, the agency has yet to approve a spot or mixed-type product.<\/p>\n
Related: <\/em><\/strong>SEC pushes deadline to decide on Grayscale spot Ether ETF<\/em><\/strong><\/p>\n
Meanwhile, most of the market is focused on whether the SEC will approve 13 spot Bitcoin (BTC) ETFs before the agency. According to Seyffart and fellow Bloomberg ETF analyst Eric Balchunas, the SEC could<\/a> decide as early as Jan. 10.<\/p>\n
Both analysts have pegged the chances of a spot Bitcoin ETF approval at 90%. The markets have been buoyed by the optimism that comes with institutional access to Bitcoin. In the last six months, the price of Bitcoin has grown more than 44%.<\/p>\n
While touting slightly less significant gains, Ether\u2019s price has grown 16.8% within the same time frame, per TradingView data.<\/p>\n
Magazine: <\/em><\/strong>Terrorism and the Israel-Gaza war have been weaponized to destroy crypto<\/em><\/strong><\/p>\n<\/div>\n