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The SEC has again postponed its decision on an eth ETF, with the VanEck ethereum ETF receiving a delayed deadline.
In a recent presentation, the SEC indicated that it would extend the deadline for making the decision until May 23 and has invited public comments on the matter. This highlights the agency's cautious approach towards cryptocurrencies.
“The Commission believes that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1, and the issues raised therein,” the SEC stated in the filing.
The postponement closely follows similar delays for the Hashdex Nasdaq ethereum ETF and the ARK 21Shares ethereum ETF, indicating a pattern of hesitancy by the regulatory body in approving cryptocurrency-based ETFs.
Anticipation around a timely decision on an ethereum ETF has been a topic of great interest, mainly because large companies such as Fidelity and BlackRock have filed applications for such products, which have also been delayed.
However, optimism has waned recently, with Bloomberg ETF analyst Eric Balchunas adjusting his forecast for the probability of approval in May from about 70% to 35%.
The series of SEC postponements comes amid increased scrutiny of the crypto space. Notably, the ethereum Foundation revealed having received a voluntary and confidential investigation from an unspecified state authority.
