The Securities and Exchange Commission (SEC) has postponed the deadline for passing a judgment on the proposed spot Ethereum ETH/USD exchange-traded fund by BlackRock Inc BLK to March 10.
What Happened: The SEC extended the decision-making time frame for the proposed rule amendment Wednesday, citing the need for "sufficient time to consider the proposed rule change and the issues raised therein."
BlackRock filed the application with the SEC on Nov. 21. The delay follows the SEC's delay of Fidelity's application on Jan. 18 and comes as no surprise to industry experts.
James Seyffart, an ETF analyst at Bloomberg Intelligence, suggested as much in a comment on his X account:
Why It Matters: Spot Ethereum ETFs have been getting increasing attention, with BlackRock and Fidelity among the contenders for approval.
The delay in the SEC’s decision has been widely expected, as discussion continue on the merit of more cryptocurrency-based investment products.
Read Next: BitMex CEO Predicts Bitcoin's Local Bottom Is $30K, Earns Nickname 'New Cramer'
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