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The Securities and Exchange Commission (SEC) has once again delayed its decision on an Ethereum Exchange-Traded Fund (ETF), pushing back the deadline for the VanEck Ethereum ETF to May 23. This move reflects the SEC’s cautious stance towards cryptocurrencies, as indicated in a recent filing inviting public comments on the matter.
The SEC stated in the filing that it needs more time to review the proposed rule change and address the issues raised, leading to the extension of the decision deadline. This decision follows similar delays for other Ethereum ETFs, including the Hashdex Nasdaq Ethereum ETF and the ARK 21Shares Ethereum ETF, signaling a trend of regulatory hesitation in approving crypto-based ETFs.
Major firms like Fidelity and BlackRock have also applied for spot Ethereum ETFs, but their applications have been met with delays as well. Despite initial optimism, Bloomberg ETF analyst Eric Balchunas has adjusted his forecast for the likelihood of approval by May from 70% to 35%.
The SEC’s postponements come at a time of increased scrutiny in the crypto space, with the Ethereum Foundation revealing a voluntary and confidential inquiry from an undisclosed state authority. Stay tuned for more updates on the latest developments in the crypto world on Global Crypto News.
