The SEC Delays Decision on BlackRock’s Spot Ether ETF

The SEC Delays BlackRock's Ether ETF Application to March 10 for Further Review of Proposed Rule Change

SEC delays decision on BlackRock’s proposed Ethereum ETF to March.

💼 BlackRock’s Proposed Spot Ether ETF Faces Delay

The United States Securities and Exchange Commission (SEC) has decided to postpone its decision on the approval of BlackRock’s proposed spot Ether (ETH) exchange-traded fund (ETF). In a filing on January 24, the SEC’s assistant secretary, Sherry Haywood, stated the need for more time to review the proposed rule change [^1^].

🕒 First of Many Delays

This delay comes a day ahead of the January 25 deadline set by the SEC. It is important to note that the SEC can exercise multiple delays within a 240-day period. The first deadline falls approximately 45 days after Nasdaq filed for an iShares Ethereum Trust on BlackRock’s behalf [^1^].

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🗓️ Anticipated Decision Dates

Although the SEC is required to reach a final decision regarding BlackRock’s spot Ether ETF by August 7, Bloomberg ETF analyst Eric Balchunas predicts that all pending spot Ether ETFs will see final decisions by May. This is similar to how the SEC made a decision on 10 pending spot Bitcoin ETFs on January 10 [^1^].

Here are the final decision deadlines for other Ether ETF applicants:

• VanEck: May 23
• Ark 21Shares: May 24
• Grayscale Investments: June 18
• Invesco Galaxy: July 5
• Fidelity: August 3 [^1^]

💭 More Delays Expected

Bloomberg ETF analyst James Seyffart believes that the next date to watch out for is May 23. He expects more sporadic delays of spot Ether ETFs over the next few months [^1^]. It seems like we’ll have to wait patiently for regulatory progress in this exciting space.

🔮 Predictions and Uncertainties

When it comes to predicting the approval of a spot Ether ETF, opinions are divided. While Balchunas puts the chances at 70% for approval by May [^1^], Morgan Creek Capital CEO Mark Yusko has a less optimistic outlook. He believes there is a less than 50% chance of an approved spot Ether ETF, citing the SEC’s perceived hostility towards the cryptocurrency industry [^1^].

🔗 References:

1. SEC filing on BlackRock’s proposed spot Ether ETF

🗣️ Q&A: Your Burning Questions Answered

Q: Why did the SEC delay its decision on BlackRock’s spot Ether ETF? A: The SEC decided to extend the review period for BlackRock’s proposed spot Ether ETF, citing the need for more time to analyze the rule change [^1^].

Q: When can we expect a final decision on BlackRock’s spot Ether ETF? A: The SEC must reach a final decision by August 7, but Bloomberg ETF analyst Eric Balchunas predicts that all pending spot Ether ETFs will have a decision by May[^1^].

Q: Are there other applicants for spot Ether ETFs? A: Yes, apart from BlackRock, other applicants include VanEck, Ark 21Shares, Grayscale Investments, Invesco Galaxy, and Fidelity [^1^].

Q: What are the chances of an approved spot Ether ETF? A: Opinions vary. Balchunas estimates a 70% chance of approval by May, while Mark Yusko predicts less than a 50% chance, highlighting the SEC’s perceived hostility towards cryptocurrencies [^1^].

🚀 The Future of Ether ETFs

The possibility of spot Ether ETFs being approved opens up intriguing opportunities for investors. If approved, these ETFs could make it easier for traditional investors to gain exposure to Ethereum and contribute to the mainstream adoption of cryptocurrencies.

As the SEC continues its review process, we can expect increased attention and speculation in the market. Keep an eye on the developments and announcements from regulators as they navigate the emerging landscape of digital assets.

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References:

1. SEC filing on BlackRock’s proposed spot Ether ETF

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