The United States Securities and Exchange Commission (SEC) has postponed its decision on approving or rejecting BlackRock and Fidelity’s spot Ether exchange-traded funds (ETFs).
In filings on March 4, the SEC announced the delay in its decision on BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund applications.
The SEC initially delayed its decision on these Ether ETF applications in January, shortly after approving several spot Bitcoin ETFs. The SEC can delay its decision up to three times before making a final ruling.
Market commentators and ETF analysts anticipate that the SEC will likely decide on the ETFs only when the final deadline arrives in May. Bloomberg ETF analyst James Seyffart emphasized May 23 as the crucial date for Ethereum ETFs.
Despite the delay, Ether’s price remains unaffected, driven by broader market enthusiasm for potential approval. Ether has gained 56.7% in the last month and is currently trading at $3,754.
Some analysts express uncertainty about the significance of spot Ether ETFs compared to Bitcoin ETFs. BlackRock’s iShares Bitcoin ETF alone has amassed $10 billion in assets under management.
Bloomberg ETF analysts plan to release formal odds on Ether ETF approval soon but perceive the yet-to-be-approved funds as less significant compared to Bitcoin ETFs, describing them as “small potatoes.”
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up