The US Securities and Exchange Commission (SEC) has postponed its decision on the proposed BlackRock Ethereum Spot ETF, citing the need for more time to review the proposed rule change.
Analysts anticipate “sporadic” delays on Ethereum Spot ETF applications until May.
Final deadlines for Ethereum ETF applications by VanEck, Ark 21Shares, Grayscale Investments, Invesco Galaxy, and Fidelity Investments are scheduled between May and August.
Find all Ethereum Spot ETF applications, important dates, and deadlines on our dedicated page by clicking here.
SEC Extends Suspense on BlackRock’s Ethereum Spot ETF
The US Securities and Exchange Commission (SEC), the securities regulator, has deferred its decision on the proposed BlackRock Ethereum Spot ETF, one day before the original deadline of January 25. This delay is the first in a series that the SEC can impose over a 240-day period, since Nasdaq filed a request for an iShares Ethereum Trust on behalf of BlackRock on December 11.
Eric Balchunas, an ETF specialist analyst at Bloomberg, predicts that the final decision on all pending Ethereum ETFs will be made in May, following a similar pattern to the 10 Bitcoin ETFs pending decision on January 10.
Industry Perspectives and Reactions
The deadlines for VanEck and Ark 21Shares’ Ethereum ETF applications are respectively set for May 23 and 24, while Grayscale Investments, Invesco Galaxy, and Fidelity Investments could wait until June 18, July 5, and August 3. James Seyffart, another Bloomberg analyst, predicts further “sporadic” delays on Ethereum ETFs in the coming months.
Earlier this month, Balchunas estimated a 70% chance of approval for the Ethereum Spot ETF by May. However, Hester “Crypto Mom” Peirce, one of the SEC commissioners considered pro-crypto, reassured applicants that a legal battle would not be necessary to convince the SEC to approve Ethereum Spot ETFs.
Despite the optimism of some, Mark Yusko, CEO of Morgan Creek Capital, predicts less than 50% chance of approval for the Ethereum Spot ETF, highlighting the SEC’s continued hostility towards the cryptocurrency industry and particularly ETH.
