The Securities and Exchange Commission postponed its decision schedule on BlackRock’s proposed position. Ethereum ETH
+3.59%
According to Monday, exchange-traded funds (ETFs) filing.
This displays: second That’s when the SEC withdrew its decision on BlackRock’s iShares Ethereum Trust. Regulators also questioned the public on Monday about whether to approve ETFs and specifically asked whether Ethereum’s proof-of-stake mechanism raises “unique concerns about Ethereum’s vulnerability to fraud and manipulation.”
The SEC also postponed its decision. Fidelity’s The Spot Ethereum ETF has requested public comment, according to a filing Monday. The agency asked similar questions to BlackRock.
Comments on both must be submitted within 21 days, and rebuttals must be submitted within 35 days.
Both BlackRock and Fidelity contaminated For the Spot Ethereum ETF in November. Since then, Franklin Templeton, Ark 21Shares, VanEck and grayscale. BlackRock, Fidelity and others launched spot Bitcoin ETFs after receiving SEC approval earlier this year.
Will it be approved?
cryptocurrency expert There is disagreement on whether a spot ether ETF will launch soon, and on a more positive note, he points to the recent approval of a Bitcoin ETF, saying he expects SEC approval could come as early as May. . mainly The path to spot ether ETFs.
Conversely, individuals with a more cautious outlook believe the approval of a spot Ether ETF is uncertain. This is a sentiment echoed by Jake Chervinsky, Variant Fund’s chief legal officer, in comments to X. weekend.
“I’m not confident that a spot ETH ETF will be approved by May 23,” Chervinsky said. “The implication is that the legal issues and policy environment in DC make a rejection (or a request for a reversal from the SEC) more likely than the general sentiment. ‘Blackrock always wins’ is lazy bullishness.”
Meanwhile, SEC Chairman Gary Gensler said the agency’s approval of a spot Bitcoin ETF was “only”cabined“and should not be read as anything other than that.”
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.