SEC Puts Off its Decision on Several Ethereum ETF Applications

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On December 18, the US Securities and Exchange Commission (SEC) announced a delay in their final decision on approving Ethereum-based exchange-traded funds (ETFs) for several companies.

The decision concerns the applications for the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF, which have been postponed.

The SEC has initiated a process to gather more information from the public regarding these investment products before making a decision.

Additionally, the approval for VanEck’s Ethereum-ETH spot and a joint venture between ARK Invest and 21Shares has also been delayed.

Bloomberg stock analyst James Seyffart commented that this delay was anticipated and the new deadline for a decision has been set for May 2024. He also speculated that the delay may be due to clearing the backlog of applications before the holiday season.