– The SEC has postponed its decision on Grayscale’s spot Ethereum ETF application
– The new deadline for the decision is January 25, 2024
– The SEC is extending the review period to allow for comprehensive consideration of the proposed rule change
– The SEC will either approve or disapprove Grayscale’s proposed Ethereum ETF application by the new deadline
– The SEC has been delaying decisions on numerous ETF filings, including those for Ethereum and Bitcoin
– The commission has not yet approved any spot Bitcoin or Ethereum ETF applications for listing on a U.S. exchange
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Grayscale’s application for a spot Ethereum exchange-traded fund (ETF), setting a new deadline for January 2024. The postponement is to allow for a longer period of consideration of the proposed rule change and the issues it entails. The SEC’s cautious stance towards integrating crypto assets into mainstream financial products is evident in its assessment of various ETF filings. The commission has also delayed decisions on ETF filings by other financial institutions. The postponement of Grayscale’s Ethereum ETF filing is considered normal, and once the SEC approves a crypto ETF, multiple applications could be approved simultaneously.
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