SEC Delays BlackRock, Fidelity Ethereum ETF Plans

SEC Delays BlackRock, Fidelity Ethereum ETF Plans

SEC Delays BlackRock, Fidelity Ethereum ETF Plans

SEC has postponed its decision on whether to accept or reject spot Ethereum exchange-traded funds (ETFs) from BlackRock and Fidelity.

The US Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or deny spot Ethereum exchange-traded funds (ETFs) proposed by BlackRock and Fidelity.

In two different filings on March 4th, the SEC stated that it would postpone deciding on the applications filed by Fidelity for its Ethereum Fund and BlackRock for its iShares Ethereum Trust. The SEC first postponed making a decision on the Ether ETF applications from BlackRock and Fiedlity in January just after approving the launch of a list of spot Bitcoin ETFs.

Before rendering a final decision, the SEC may postpone it for a maximum of three times. The market experts and ETF analysts had long speculated that the SEC would decide whether or not to approve the ETFs until after the first final deadline in May, so their delay has not been surprising.

James Seyffart, a Bloomberg ETF expert identified the critical date for Ethereum ETFs in an article published on February 7–X. This date is May 23, which is also the last day to apply for VanEck’s spot in the ETH ETF. In the meantime, the market’s general excitement over possible approval has continued to drive the price of Ether, which has gained 56.7% over the past month. The Securities and Exchange Commission (SEC) decision to postpone it today had no bearing on it.

SEC Delays BlackRock, Fidelity Ethereum ETF Plans
May 23 is the “only date that matters” for Ethereum ETF applications. Source: James Seyffart on X

ETH Price Rises 13% to $3,754

According to CoinGecko data, the price of ETH at the time of publication was $3,754, up 13% over the previous week. Though BlackRock’s iShares Bitcoin ETF now has an astounding $10 billion in assets under management not everyone is as sure that a spot Ether ETF will be as important as the spot Bitcoin ETFs.

SEC Delays BlackRock, Fidelity Ethereum ETF Plans

Though he and his colleague Seyffart would soon have official chances on an ETH ETF acceptance, Bloomberg ETF analyst Eric Blachunas called the funds that still need approval “small potatoes” in comparison to the Bitcoin funds. 

SEC Delays BlackRock, Fidelity Ethereum ETF Plans
Source: Eric Balchunas on X

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