History repeats itself, as the U.S. SEC is now pushing the spot Ethereum ETF decision deadlines as far as possible.
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 (ETH) 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 (BTC) ETFs in January.
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.
The SEC remains one of the most consistently anti-crypto forces in the United States. According to a report from litigation consulting firm Cornerstone Research, the number of crypto-related enforcement cases brought by the SEC in 2023 was the highest since 2013, suggesting that digital assets were a “top priority” for the commission. Of the 46 enforcement actions in 2023, Cornerstone reported the SEC imposed $281 million in monetary penalties for settlements and tripled the number of administrative proceedings from 2022.
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Source: https://cointelegraph.com/news/sec-delays-grayscale-blackrock-spot-ethereum-etfs-law-decoded-jan-22-29