The U.S. Securities and Exchange Commission is delaying making a decision on the next steps for investment firm Franklin Templeton's spot Ethereum exchange-traded fund.

The agency pushed its timeline to decide to June 11, 2024, after which the SEC could approve or disapprove or institute proceedings,  the SEC said in a filing on Tuesday.

"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the SEC said.

Franklin Templeton filed its S-1 registration statement for the Franklin Ethereum ETF in February. The fund would generally reflect the price of ether and Coinbase Custody Trust Company and the Bank of New York …