The US Securities and Exchange Commission (SEC) has again postponed the deadline to make a decision on BlackRock and Fidelity's applications to launch ethereum (eth) spot ETFs.
Information about the application appeared on the regulator's page. website. The SEC once again postponed the deadline for considering the application and sought comments from market participants.
“The Commission has reached conclusions on any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to comment on the proposed rule change.”
SEC statement
The first postponement of the decision on applications was recorded in January 2024. The March postponement was the second. The SEC can change the decision date on applications three times in total.
According to Bloomberg analyst James Seyffarth, the instrument could hit the market on May 23, 2024. This day marks the deadline for the SEC to issue a decision on VanEck's request to launch an ethereum spot ETF.
In February, US investment fund Franklin Templeton, which manages $1.5 trillion in assets, joined the list of applications to launch an ethereum ETF. The company plans to entrust eth storage to the Coinbase exchange as a custodian. Units of the Franklin ethereum ETF will be traded on the Chicago Board Options Exchange (CBOE).
Meanwhile, the SEC's decision did not affect the price of ethereum in any way. The second-largest cryptocurrency by market capitalization is up more than 7% in the last 24 hours, trading above $3,700 at the time of writing, according to data from CoinMarketCap.
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eth's growth followed bitcoin's (btc) rapid rally: on March 4, btc got as close to its all-time high as possible, reaching $68,770.
