The Securities and Exchange Commission (SEC) of the United States has postponed its verdict on approving or rejecting BlackRock and Fidelity’s proposed Ethereum exchange-traded funds (ETFs).
In filings on March 4, it stated that it will delay its decision on iShares Ethereum Trust from BlackRock and Ethereum Fund from Fidelity.
This is not the first time that the SEC has delayed its decision on BlackRock and Fidelity’s ETF applications for Ethereum, as it had also done so in January shortly after approving several Bitcoin ETFs.
The SEC has the authority to delay its decision three times before reaching a final conclusion. The SEC’s decision to delay was not unexpected, as experts and analysts have been speculating that the final verdict on the ETFs will only be reached in May.
In a previous article published on Feb. 7, Bloomberg ETF analyst James Seyffart mentioned that the final deadline for VanEck’s proposed Ethereum ETF on May 23 is the “only important date” to consider for Ethereum ETFs.
