The SEC Delays Decision on Grayscale’s Ethereum ETF
The Securities and Exchange Commission (SEC) has postponed its decision regarding the approval or rejection of Grayscale’s Ethereum ETF. The regulator wants more time to fully evaluate the proposal.
The SEC has announced a 45-day delay, setting a new deadline for January 25, 2024, by which the regulator will either approve or reject the application.
“The Commission considers it appropriate to set a longer deadline to take action on the proposed rule change in order to have sufficient time to review the proposed rule change and the issues raised therein,” stated the SEC.
The World’s Largest ETH Fund
In October 2023, Grayscale Investments filed a ‘form 19b-4’ to convert its Grayscale Ethereum Trust into a SPOT ETF.
This trust currently manages 2.5% of all circulating ETH, totaling $5 billion, making it the largest ETH investment vehicle in the world.
So far, the SEC has not approved any ETH or Bitcoin spot funds and has delayed decisions on all applications received.
