The US Securities and Exchange Commission (SEC) has put off its decision on asset manager VanEck's application to launch a spot Ethereum ETF.
The SEC announced yesterday that more time is needed to review Cboe BZX's proposal to list and trade shares of the VanEck Ethereum ETF.
A final decision on the investment vehicle will be made by May 23.
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According to the regulator, it needs more time to carefully study the proposed rule change, which has led to the extension of the deadline. The delay comes after the SEC also recently delayed deadlines to approve Hashdex and ARK 21Shares Ether ETFs.
Bloomberg ETF analyst James Seyffart has suggested the current round of Ethereum ETF applications, which all have a May 2024 deadline, will ultimately be rejected.
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