The Securities and Exchange Commission delayed its decision timeline on BlackRock's proposal for a spot Ethereum exchange-traded fund to March, according to a filing. 

"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," according to Wednesday's filing. 

The SEC will now face a March 10 deadline to approve, disapprove or institute additional proceedings on the proposed fund.

BlackRock filed for its spot Ethereum ETF, called the iShares Ethereum Trust, in November. Fidelity's application for the Fidelity Ethereum Fund was also delayed, according to a filing posted last week. 

Bloomberg Intelligence ETF …