After the approval of a Bitcoin spot ETF by the SEC, there has been speculation about the possibility of an Ethereum spot ETF being approved as well. However, according to the latest documents, the SEC has decided to extend the review period for the proposed Ethereum spot ETF by Fidelity for an additional 45 days until March 5th.
Currently, there are a total of 7 Ethereum spot ETF applications awaiting approval from the SEC, including BlackRock, Fidelity, Grayscale, VanEck, Ark/21Shares, Invesco/Galaxy, and Hashdex.
Based on the latest documents, the SEC has decided to extend the review period for Fidelity’s proposed Ethereum spot ETF for an additional 45 days until March 5th. The SEC stated that it needs more time to consider the proposed rule changes and the issues raised in the proposal.
Fidelity submitted its application for an Ethereum spot ETF in November last year, becoming the 7th company to submit an application for an Ethereum spot ETF. Along with the application, Fidelity also cited a court ruling from last year to strengthen its position.
In that ruling, the judge questioned the SEC and pointed out that the SEC failed to provide a reasonable explanation for allowing futures-based ETF trading while rejecting spot ETFs, putting pressure on the SEC.
ETF analyst James Seyffart from Bloomberg sees the SEC’s decision to postpone Fidelity’s application as expected and remains optimistic. In his tweet, he emphasized that when the SEC approved 9 Ethereum-related futures ETFs last year, it implicitly acknowledged Ethereum as a commodity, indicating that the first Ethereum spot ETF may be launched this year.
Last week, Stuart Barton, co-founder of Volatility Shares, also believed that an Ethereum spot ETF listing is just a matter of time.
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– Ethereum spot ETF may be approved for listing this year, according to Bloomberg analyst: SEC has implicitly acknowledged Ethereum as a commodity.