SEC Extends Decision Timeline for Grayscale's Spot Ether ETF into the New Year
The Securities and Exchange Commission (SEC) has extended the decision timeline for the approval or disapproval of Grayscale Ethereum Trust's spot exchange-traded fund (ETF) by 45 days, now set for January 25.
Because Bitcoin
December 5, 2023
The Securities and Exchange Commission (SEC) has extended the decision timeline for the approval or disapproval of Grayscale Ethereum Trust's spot exchange-traded fund (ETF) by 45 days, now set for January 25, as per a recent The Block report.
The SEC stated that the extension allows sufficient time for thorough consideration of the proposed rule change and related issues. This delay follows a similar postponement for the Hashdex Nasdaq Ethereum ETF. Grayscale Investments, seeking approval for the world's largest Ethereum investment vehicle, filed a Form 19b-4 to convert its Grayscale Ethereum Trust to a spot ETF in October.
The trust, launched in March 2019, currently manages nearly $5 billion in assets, representing 2.5% of circulating ETH. While other companies, including BlackRock, await regulatory approval for spot ETFs, the SEC has yet to approve either a spot ether or bitcoin fund, postponing decisions on multiple applications. Recently, both BlackRock and Bitwise submitted amendments to S-1 filings for their spot bitcoin proposals.
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