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The U.S. Securities and Exchange Commission (SEC) has opted to postpone its verdict on BlackRock Spot Ethereum ETF (ETF) until March 10, 2024. The extension allows the SEC additional time to thoroughly evaluate the proposed rule change and address any raised concerns.
As stipulated by Section 19(b)(2) of the Act, the Commission can designate a longer period, up to 90 days, to ensure a comprehensive assessment before either approving, disapproving, or initiating proceedings regarding the proposed ETF.
BlackRock Spot Ethereum ETF- Anticipated Delays in Spot Ethereum ETF Decision Process
Seyffart highlighted that delays in decisions regarding Spot Ethereum ETFs are expected to persist intermittently in the coming months, with the next significant date in this context being May 23rd.
[TREE DAO] BREAKING: SEC delays Blackrock spot Ethereum ETF. https://t.co/iwNStdLscZ
— Tree News (@News_Of_Alpha) January 24, 2024
Seyffart expressed his lack of surprise at the SEC’s postponement of Fidelity’s spot Ethereum ETF, emphasizing that such delays were entirely anticipated in this context.
BlackRock Spot Ethereum ETF- Goldman Sachs Digital Assets Head Optimistic About Spot Ethereum ETF Approval
Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, has expressed optimism regarding the potential approval of spot Ethereum ETFs in the coming months. In a recent CNBC interview, McDermott underscored a crucial factor influencing the approval process, stating, “A big question naturally centers around whether it’s perceived to be a security or not.” He emphasized that this determination would play a pivotal role in the decision-making process.
BlackRock Spot Ethereum ETF- McDermott highlighted the cost-effectiveness of investing in Bitcoin through these ETFs compared to direct cryptocurrency investment. He also noted the significance of major, regulated institutions being empowered to issue Bitcoin ETFs, describing it as a powerful statement for the market.
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