SEC delays a number of Ethereum ETFs, pushing ultimate resolution to May

5:15 am
December 19, 2023
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The United States Securities and Exchange Commission is pushing again its resolution on a number of Ether (ETH) exchange-traded finances (ETFs) to May 2024.

In a number of Dec. 18 regulatory filings, the company not on time its resolution at the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF.

The Hashdex Ether ETF targets to carry each spot Ether and futures contracts, whilst Grayscale’s Ethereum Futures ETF is noticed as a “trojan horse” that may nook the SEC into permitting Grayscale to convert its Ethereum Trust to a place Ethereum ETF.

In the filings, the company mentioned it was once instituting lawsuits that contain accumulating additional public enter round whether or not or now not the ETFs must be indexed.

The company additionally driven again its resolution at the VanEck spot Ethereum ETF and the spot Ethereum ETF lodged via Cathie Wood’s ARK Invest and 21Shares.

According to Bloomberg ETF analyst James Seyffart, those delays had been “expected” and had been because of arrive someday sooner than Dec. 25.

He added that the general date the regulator can come to a decision at the ETFs will arrive in past due May.

Despite the SEC having licensed Ethereum futures ETFs previously, the company has but to approve a place or mixed-type product.

Related: SEC pushes closing date to come to a decision on Grayscale spot Ether ETF

Meanwhile, lots of the marketplace is interested by whether or not the SEC will approve 13 spot Bitcoin (BTC) ETFs sooner than the company. According to Seyffart and fellow Bloomberg ETF analyst Eric Balchunas, the SEC could come to a decision as early as Jan. 10.

Both analysts have pegged the possibilities of a place Bitcoin ETF approval at 90%. The markets were buoyed via the optimism that includes institutional get right of entry to to Bitcoin. In the final six months, the value of Bitcoin has grown greater than 44%.

While touting somewhat much less important features, Ether’s value has grown 16.8% inside of the similar time period, consistent with TradingView data.

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