The decision by SEC on several Ethereum exchange-traded funds (ETFs) by the US Securities and Exchange Commission has been postponed until May 2024.
On December 18, in regulatory filings, the SEC delayed the ruling on the Hashdex Nasdaq Ethereum ETF and Grayscale Ethereum Futures ETF.
The Hashdex Ether ETF intends to encompass spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is considered a potential strategy to convert its Ethereum Trust to a spot Ethereum ETF.
The SEC is requesting further public input on the ETF listings. Moreover, the agency postponed decisions on the VanEck spot Ethereum ETF and ARK Invest’s spot Ethereum ETF, establishing a final decision deadline for late May.
UPDATE: SEC Going early with delay orders for @hashdex & @Grayscale #Ethereum ETF filings. Neither were due until Jan 1, 2024.
Maybe just clearing the queue before the holidays? pic.twitter.com/LdZQxGh43L
— James Seyffart (@JSeyff) December 18, 2023
While Ethereum futures ETFs have obtained prior approval, the SEC has not yet authorized a spot or hybrid product. Attention is now directed toward the potential approval of 13 spot Bitcoin ETFs, with Bloomberg analysts James Seyffart and Eric Balchunas anticipating a possible decision as early as January 10.
The likelihood of approval for a spot Bitcoin ETF stands at around 90%. Institutional interest in Bitcoin is fostering market confidence, leading to a 44% surge in Bitcoin’s price over the last six months.
Ether has also observed gains, although slightly lower, experiencing a 16.8% increase during the same period.
