Blackrock’s Ethereum Spot ETF Proposal Delayed Till March by SEC

  • SEC delays BlackRock’s Ethereum ETF decision to March 10, 2024.
  • Caution over volatility prompts SEC’s extended review on crypto ETF.
  • BlackRock’s Ethereum spot ETF faces thorough SEC scrutiny, with a March deadline.

The US Securities and Exchange Commission (SEC) has postponed its decision on BlackRock’s proposed Ethereum spot ETF, setting a new deadline of March 10, 2024. The extended timeline indicates the SEC’s thorough approach to addressing potential risks associated with the iShares Ethereum Trust, emphasizing its commitment to investor protection in the evolving and complex crypto landscape.

Read CRYPTONEWSLAND on Google News google news

Originally submitted by The Nasdaq Stock Market on November 21, 2023, the ETF aims to provide direct exposure to Ethereum’s price movements. The wait for ETH ETF approval has been highly anticipated.

The SEC extended the initial 45-day review period, which was set to end on January 25, 2024, expressing the need for more time to thoroughly evaluate the proposal and related issues surrounding a spot Ethereum ETF.

Published for comment on December 11, 2023, the proposal has not yet garnered any public comments. The extended review period underscores the SEC’s cautious stance on crypto-based ETFs amid a changing regulatory landscape.

BlackRock, a global asset management giant, has been a leader in incorporating digital assets into traditional investment vehicles. However, the SEC’s caution reflects ongoing concerns about the volatility, security, and regulatory compliance of crypto products.

The decision holds significance for investors and industry experts, as approval would signify a crucial step toward mainstream acceptance of cryptos. The post on Reddit’s CryptoCurrency thread shows further discussion on the move. 

One response adds that May 23, is the final deadline for VanEck’s Ethereum ETF. Thus, the new expectation is that the decision to approve ETH ETFs might take as long as this and more delays shouldn’t be surprising.

Read Also

Crypto News Land (cryptonewsland.com)

related posts