- The SEC has delayed its decision on spot Ether ETFs, with the next deadline set to July 5.
- The Commission needs more time to consider the proposed rule change and related issues.
Unlike the spot Bitcoin exchange-traded funds (ETFs) in the U.S., the excitement for spot Ethereum ETFs seems slightly less.
Even though Hong Kong approved multiple spot ether ETFs last month, the U.S. is yet to take a call on the same. However, it doesn’t seem to be happening anytime soon.
In a filing published on Monday, the U.S. Securities and Exchange Commission (SEC) gave itself another 60 days to make a call on the Galaxy’s ETF, with the next deadline set to July 5.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” stated SEC in the filing.
Apparently, this is not the first time the SEC has delayed its decision on applications for spot Ether ETFs.
In March, the SEC delayed the decision on spot ETH ETF applications from Hashdex and Ark 21Shares until late May, with expectations for the VanEck spot ETH ETF decision on May 23. But then in April, the agency opened a 21-day comment window for the spot Ethereum ETF proposals by Grayscale Investments, Fidelity, and Bitwise.
Edited by Harshajit Sarmah
