By David Attlee
On Jan. 24, the United States Securities and Exchange Commission (SEC) pushed back its decision on BlackRock’s proposed spot Ethereum exchange-traded fund application (ETF) a day before the deadline, citing the need for more time to review the proposed rule change. While the SEC must make a final decision on BlackRock’s spot Ether ETF decision by Aug. 7, Bloomberg ETF analyst Eric Balchunas has predicted a final decision will be made on all pending spot Ether ETFs in May — similar to the way the SEC decided on 10 pending spot Bitcoin
The next day, the SEC also delayed its decision on whether to approve a spot Ether ETF from Grayscale Investments, opening the application to public comments. The SEC said it would institute proceedings to determine whether to approve or disapprove a proposed rule change allowing NYSE Arca to list and trade Grayscale Ethereum Trust shares. Opening the proposed investment vehicle to public comment will push the deadline for a decision by an additional 35 days upon publication in the Federal Register.