The Securities and Exchange Commission (SEC) has pushed back its timeline for deciding on BlackRock’s proposed Ethereum exchange-traded fund (ETF). According to a filing, the SEC will now have until March 10th to make a ruling on the ETF.
The delayed decision gives the SEC more time to evaluate the proposal and address any concerns. BlackRock first filed for approval of its spot Ethereum ETF, called the iShares Ethereum Trust, back in November.
Fidelity has also seen delays for its planned Fidelity Ethereum Fund, per filings last week. Experts predict further postponements of spot Ethereum ETF decisions over the next few months.
“We’ll likely see more Ethereum ETF delays happen sporadically in the coming months,” said Bloomberg analyst James Seyffart recently. “The next major date to watch is May 23rd.”
Crypto observers remain divided on whether a spot ether ETF will ultimately get SEC approval. Some are hopeful following the recent green lighting of several spot Bitcoin ETFs.
However, SEC Chair Gary Gensler has cautioned against assumptions that other crypto products will be viewed the same way. Last week, he reiterated that the approved Bitcoin ETFs should be seen as limited to that specific commodity.
The outlook for an Ethereum ETF thus remains uncertain for now. The additional time before the March deadline gives the SEC wiggle room to decide its stance.
