Ethereum ETFs Delayed: Latest Crypto Market Updates from SEC

Ether ETFs Delayed to May 2024

The US Securities and Exchange Commission (SEC) has pushed back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024.

On Dec. 18, the agency delayed its ruling on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF.

The Hashdex Ether ETF would hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a “trojan horse” that could potentially lead to the SEC allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF.

In the filings, the agency said it was initiating proceedings that involve collecting further public input on whether or not the ETFs should be listed on the crypto market.

Latest on Crypto Market: SEC Delays Decision on ETFs

The Securities and Exchange Commission (SEC) has pushed back its decision on VanEck’s spot Ethereum ETF and the spot Ethereum ETF proposed by Cathie Wood’s ARK Invest and 21Shares. According to Bloomberg ETF analyst James Seyffart, these delays were anticipated and were scheduled to be announced before December 25.

The regulator has until late May to make a final decision on the ETFs. Despite the SEC having previously approved Ethereum futures ETFs, the agency has yet to approve a spot or mixed-type product.

Investors interested in web 3.0 and the crypto market have been closely monitoring the SEC’s decision, as the approval of the ETFs could open up a new world of investment opportunities. Grayscale, Kraken and other crypto exchanges are ready to provide access to crypto assets, such as ETH, as soon as the ETFs are approved.

Crypto Market Optimism

The crypto market is eagerly awaiting the SEC’s decision on 13 Bitcoin (BTC) ETFs, which could arrive as early as Jan. 10. Analysts Seyffart and Balchunas have estimated a 90% chance of approval, leading to a surge in prices. Over the past six months, Bitcoin has gained 44%, while Ether has seen a 16.8% increase, according to TradingView data.

Institutional investors are optimistic about the potential of gaining access to Bitcoin, and Grayscale’s crypto trust is a popular option for those looking to invest in the web 3.0 space. Kraken is another popular crypto exchange, offering a variety of digital currencies.

As the crypto market continues to evolve and expand, it will be interesting to see how the SEC’s decision affects the price of Bitcoin and Ether.