SEC delays decision on Fidelity’s proposed spot Ethereum ETF to March | Headlines | News | CoinMarketCap
01/19/2024 05:32
The Securities and Exchange Commission delayed its deadline to make a decision on Fidelity's proposal for a spot Ethereum exchange-traded fund until …
The Block13 minutes ago
Ethereum
Foresight
SEC
ETF
ETF
Published on January 18, 2024 22:19 GMT+00:00edited on January 18, 2024 22:19 GMT+00:00
The Securities and Exchange Commission delayed its deadline to make a decision on Fidelity's proposal for a spot Ethereum exchange-traded fund until March 5, according to a filing on Thursday.
"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.
Fidelity applied for the Fidelity Ethereum Fund in November, noting in its proposal a court ruling last year where judges said the SEC failed to find a coherent reason on why it should reject spot crypto ETFs when it had allowed futures-based products.
The SEC will now have more time to decide whether to approve, disapprove or institute proceedings.