Summary
The Securities and Exchange Commission (SEC) has delayed a decision on BlackRock’s proposed spot ether ETF, pushing the decision to March 10. This delay was expected following the SEC’s previous delay on Fidelity’s proposed fund. The SEC recently approved several spot bitcoin ETFs, but the status of ether ETFs remains unclear. Bloomberg Intelligence analyst James Seyffart predicts that sporadic delays will continue over the next few months, with the next important date being May 23. SEC Commissioner Hester Peirce stated that the agency would use precedent when making decisions on spot ether ETFs and does not want to repeat history by facing another court case. The future of ether ETFs is uncertain, with varying opinions on their approval. SEC Chair Gary Gensler’s recent statement on bitcoin ETF approvals clarified that it does not indicate a willingness to approve crypto asset securities.
Key Points
1. The Securities and Exchange Commission (SEC) has delayed a decision on BlackRock’s proposed spot ether ETF, pushing any decision on the fund to March 10.
2. The delay was largely expected, as the SEC has also delayed decisions on Fidelity’s proposed fund earlier.
3. The approval of spot bitcoin ETFs by the SEC does not indicate a willingness to approve listing standards for crypto asset securities.