Ethereum ETF Approval Expected In May

Thu Feb 8 2024 10:59 AM 3 min read

SEC Pushes Back Decision on BlackRock, Fidelity's Ether ETF Applications

The SEC wants to know if the applications for spot Ether exchange-traded funds (ETF), submitted by BlackRock and Fidelity Investments, provide adequate protection for investors.

The SEC has pushed back its decision on whether to approve spot Ether ETFs, which would allow investors to bet on the price of the cryptocurrency without having to buy it directly. The commission said it needs more time to consider the applications from BlackRock and Fidelity Investments.

The SEC's decision is closely watched by the cryptocurrency industry, which is eager for more ways to invest in Ether. A spot Ether ETF would be the first of its kind, and it could open up the cryptocurrency to a wider range of investors.

However, the SEC has expressed concerns about the volatility of Ether and the potential for manipulation in the cryptocurrency market. The commission also wants to make sure that any Ether ETF is properly regulated and that investors are protected.

The SEC's decision is expected in May. If the commission approves the applications, it would be a major boost for the cryptocurrency industry. It would also be a sign that the SEC is becoming more comfortable with the regulation of cryptocurrencies.

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