The United States The Securities and Exchange Commission is taking more time to decide on BlackRock’s application for an Ethereum exchange-traded fund (ETF). They will make a decision in March.
The SEC has set March 10, 2024 as the new date to decide on BlackRock’s Ethereum ETF. The Commission will decide whether the new rule should be approved, rejected, or further reviewed.
According to the SEC, the law says that within 45 days of a proposed rule being announced, the Commission can choose to have up to 90 days to review it.
“The SEC wants more time to think about the new rule before they make a decision,” said the SEC.
There will be more delays in making a decision about the Ethereum ETF.
Bloomberg analyst James Seyffart said he expected the decision to be postponed.
“Seyffart said that there will be delays for the Spot Ethereum ETF from time to time in the next few months. ” “The next important date is May 23rd. ”
The SEC delayed Fidelity’s Ethereum ETF. Jan is short for January. On February 18, the Commission said it will take longer to finish and changed the date to decide to March 5.
“Seyffart said that Fidelity’s application was completely expected. ”
Goldman Sachs is hopeful that an investment fund for Ethereum will be approved.
Mathew McDermott, who leads the digital assets team at Goldman Sachs worldwide, said he is hopeful that spot Ethereum ETFs will be approved soon.
During a recent interview on CNBC, McDermott said the most important thing for approval is whether people think it’s safe or not. He also said that will decide if it gets approved.
McDermott said it’s cheaper to invest in Bitcoin with ETFs than directly with crypto.
“Big, well-regulated companies being able to offer Bitcoin ETFs is a strong signal for the market,” McDermott said.