Summary
The SEC has delayed the decision on BlackRock’s proposed spot Ethereum ETF, along with applications from other investment firms. The deadline for a decision has been thrown out, with delays expected to continue until May 23. Interest in spot Ethereum ETFs is growing due to the success of Bitcoin ETFs and the upcoming Dencun upgrade for the Ethereum network. ETFs based on Ethereum futures have been available since October.
Key Points
1. The Securities and Exchange Commission has delayed decision-making on a proposed spot Ethereum ETF from BlackRock for the second time, with the original application submitted in November.
2. The SEC has also pushed back decisions on spot Ethereum ETF applications from other investment firms like Fidelity, Invesco, and Galaxy Digital, with delays expected to continue until May 23.
3. Interest in spot Ethereum ETFs is increasing as Bitcoin approaches a new all-time high, with the upcoming Dencun upgrade for the Ethereum network seen as a bullish signal. ETFs based on Ethereum futures have been available since October.