SEC Delays its Decision on VanEck Spot Ethereum ETF Application

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The approval process for the VanEck Ethereum ETF, another spot ETH ETF, has been delayed by the Securities and Exchange Commission.

The decision, which was originally expected by May 23, 2024, has been pushed back to allow for more time to review the proposed rule change and public comments.

This delay comes after similar delays for the Hashdex Nasdaq Ethereum ETF and the ARK 21Shares Ethereum ETF, and as big-name firms like Fidelity and BlackRock have also applied for spot ETH ETFs.

However, optimism for the approval of a spot Ethereum ETF has decreased in recent weeks, with Bloomberg ETF analyst Eric Balchunas lowering his estimate for approval from 70 percent to 30 percent by May.