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Home»ADOPTION NEWS»SEC Delays Decision on Hashdex and Ark 21Shares Ethereum ETF
ADOPTION NEWS

SEC Delays Decision on Hashdex and Ark 21Shares Ethereum ETF

By Crypto FlexsMarch 20, 20243 Mins Read
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SEC Delays Decision on Hashdex and Ark 21Shares Ethereum ETF
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The Securities and Exchange Commission has postponed its decision on whether to approve Hashdex Nasdaq. Ethereum ETH

-7.18%
Exchange traded fund.

If approved, the Hashdex ETF will hold spot ether and futures contracts. in To find out In a filing Tuesday, the SEC said it would extend the time it takes to issue a decision until May 30, 2024.

“The Commission has determined that it is appropriate to specify a longer period for issuing an order approving or disapproving a proposed rule change to allow sufficient time to consider the proposed rule change and the issues raised thereunder,” the SEC said. said.

The Nasdaq stock exchange has filed with the SEC to list the Hashdex Nasdaq Ethereum ETF. September. The Fund is managed and controlled by Toroso Investments, a registered commodity pool operator with the Commodity Futures Trading Commission and a member of the National Futures Association. The SEC has delayed its decision on ETFs several times. public comment In December.

The SEC also said: To find out On Tuesday, it postponed its decision on the ARK 21Shares Ethereum ETF, which tracks Ethereum performance, to May 24, 2024. The SEC is also requesting public comment on the application.

Spot Ethereum ETF

large corporations such as fidelity and black stone, has been applying for a spot Ethereum ETF over the past few months. Optimism about the SEC approving such products has steadily declined over the past few weeks. Bloomberg ETF analyst Eric Balchunas recently said: fell He estimated the likelihood of a spot Ethereum ETF being approved by May at around 70% to 30%.

Bloomberg ETF analyst James Seyffart said delays were expected Tuesday.

“These orders will always be delay orders. The only deadline that matters is May 23,” Seyffart says. Posted On Tuesday

Seyffart also said he expects the spot Ethereum ETF to be rejected.

“The cautious and optimistic attitude towards the ETH ETF has shifted in recent months,” Seyffart posted on X on Tuesday. “We now believe this round will ultimately be rejected on May 23rd. The SEC has not worked with the issuer on Ethereum details. Quite the opposite of the #bitcoin ETF this fall.”

The SEC has previously approved ETFs similar to Ether futures, but not a spot Ether ETF or a hybrid ETF. october, nine A gift-based product was also approved and debuted at the same time.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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