SEC Delays Decision on Grayscale’s Ethereum Spot ETF!

Writer: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

Dec 6, 2023 9:23

The U.S. Securities and Change Fee (SEC) has pushed again its resolution on Grayscale’s proposal to transform its Ethereum Belief into an Ethereum spot exchange-traded fund (ETF). The regulatory physique has prolonged the evaluation interval by 45 days, with a brand new deadline set for January 25, 2024. Grayscale’s Ethereum Belief presently holds over $1 billion price of ETH, and the corporate has been in search of approval for a spot ETF since 2017. The choice comes because the SEC continues to weigh the potential dangers and advantages of cryptocurrency ETFs, with some trade specialists speculating that the regulator might in the end approve the proposal.