The Securities and Exchange Commission has again postponed its decision schedule on Grayscale Investments’ proposal. Ethereum ETH
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The SEC specifically asked whether Ethereum’s proof-of-stake mechanism and “concentration of control or influence by a small number of individuals or entities” may raise unique concerns that make the fund vulnerable to fraud and manipulation.
The agency also raised questions about Ethereum futures products in its filing. The deadline for submitting comments is 21 days and the rebuttal period is 35 days, the SEC said.
Regulators first postponed a decision on the proposal on December 5.
additional delay
The agency also delayed decisions on other proposed Ethereum spot funds over the past week, including those from BlackRock and Fidelity.
cryptocurrency expert I was both optimistic and pessimistic about the imminent launch of a spot ether ETF. Some believe SEC approval could come as early as May, following the approval of a spot Bitcoin ETF earlier this month.
Bloomberg Intelligence ETF analyst James Seyffart said delays for the spot Ethereum ETF will continue.
“Spot Ethereum ETF delays will continue to occur sporadically over the next few months. The next significant date is May 23,” Seyffart said in a post on X earlier this week.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.