After the SEC approved Bitcoin spot ETFs, there is speculation that Ethereum spot ETFs may also be approved. However, according to the latest documents, the SEC has decided to extend the review period for Fidelity’s Ethereum spot ETF application by 45 days until March 5th.
The SEC’s approval of 11 Bitcoin spot ETFs last week sparked discussions about whether Ethereum spot ETFs will be approved next. Currently, there are 7 Ethereum spot ETF applications awaiting approval from the SEC, including BlackRock, Fidelity, Grayscale, VanEck, 21Shares/Ark, Invesco/Galaxy, and Hashdex.
According to the latest documents, the SEC has decided to extend the review period for Fidelity’s Ethereum spot ETF by 45 days until March 5th. The SEC stated that it needs more time to consider the proposed rule changes and the issues raised in the proposal.
Fidelity applied for the Ethereum spot ETF in November last year, becoming the 7th company to submit an Ethereum spot ETF application. Along with the application, Fidelity also cited last year’s court ruling to strengthen its position. In that ruling, the judge questioned the SEC and pointed out that the SEC failed to provide a reasonable explanation for allowing futures-based ETF trading while rejecting spot ETFs, putting pressure on the SEC.
Regarding the SEC’s delay of Fidelity’s application, Bloomberg ETF analyst James Seyffart is optimistic and believes that “everything is as expected.” In his tweet, he emphasized that when the SEC approved 9 Ethereum-related futures ETFs last year, it implicitly acknowledged Ethereum as a commodity, which means the first Ethereum spot ETF is expected to be listed this year.
Last week, Stuart Barton, co-founder of Volatility Shares, also believed that an Ethereum spot ETF listing is only a matter of time.
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