SEC Again Delays Decision On BlackRock, Fidelity’s Ether ETF Applications

SEC Again Delays Decision On BlackRock, Fidelity’s Ether ETF Applications
фото показано с : zycrypto.com

2024-3-6 16:49

On Monday, the U.S. Securities and Exchange Commission (SEC) once again postponed making any decision on Ethereum (ETH) exchange-traded fund (ETF) applications from investment giants BlackRock and Fidelity.

Both BlackRock and Fidelity submitted their first filings to create Ethereum ETFs to the SEC in November, which the securities watchdog postponed in January shortly after approving a roster of spot BTC ETFs, claiming the need for a “longer period within which to take action.”

The SEC is allowed by law to postpone its decision up to three times before arriving at a final decision, with the first deadline in May. According to the Monday filings, the SEC is launching comment periods for both Ethereum ETF applications to “address the sufficiency” of the proposals.

In particular, the SEC raised concerns about the “nature of the underlying assets” held by these proposed funds. Comments for both Fidelity and BlackRock are due over the next 21 days, and rebuttals are due in 35 days. The regulator posed this question to public commenters:

“Are there particular features related to ether and its ecosystem, including its proof of stake consensus mechanism and concentration of control or influence by a few individuals or entities, that raise unique concerns about ether’s susceptibility to fraud and manipulations?”

The SEC’s delay was expected, with market pundits reckoning that the agency will only decide to give the nod or reject the ether ETFs once the first final deadline arrives in May.

Wen Spot ETH ETFs?

Analysts are uncertain whether BlackRock’s spot Ethereum ETF will get the green light this year. The policy backdrop in the U.S. could affect the SEC’s decision and the blockbuster success of BTC-based ETFs.

BlackRock’s IBIT currently holds a staggering $11.5 billion in assets under management, with the U.S. spot BTC ETFs managing roughly $50 billion combined.

Meanwhile, the price of ether has soared to new two-year highs above $3,800 as anticipation mounts for the potential approval of spot ETH ETFs in the foreseeable future. At the time of publication, ETH was changing hands for $3,879.97, up 3.9% on the day, per data from CoinGecko. However, senior ETF analyst for Bloomberg, Eric Balchunas, argues that the yet-to-be-approved Ethereum funds will be “small potatoes” compared to the Bitcoin ETFs.

Ether’s positive momentum also comes amid enthusiasm for the network’s major Dencun upgrade, set to go live on the mainnet on March 13. Dencun will introduce proto-danksharding to the number one proof-of-stake blockchain — a feature intended to lower transaction costs for layer-2 solutions, making data availability cheaper while also tackling scalability problems.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Decision Token (HST) на Currencies.ru

$ 0.0118839 (+0.39%)
Объем 24H $700.371k
Изменеия 24h: -23.86 %, 7d: -63.45 %
Cегодня L: $0.0113135 - H: $0.0147485
Капитализация $380.593k Rank 999999
Доступно / Всего 32.026m HST

etf applications sec fidelity blackrock again decision

etf applications → Результатов: 126


Wilshire Phoenix Proposes Exchange Traded Product (ETP) to the SEC to Hedge Bitcoin with US T-bills

The SEC has received multiple applications for Exchange Traded Product (ETF) to be listed on the New York Stock Exchange (NYSE). However, it has been delaying these decisions since at least the middle of last year for many of the companies that have tried to gain the listings. This is despite the Commissioner of the […]

2019-5-31 00:29


Фото:

Bitcoin Inches above $4,100 as “Crypto Winter” May Finally Be over: BTCManager’s Week in Review April 1, 2019

The price of bitcoin managed to maintain above the critical $4,000 mark and closed the week two percent higher at a touch over $4,100 per coin. The Bitcoin market remained firm despite the news that the SEC has decided to delay its approval or rejection decision of the Bitwise and VanEck/SolidX Bitcoin ETF applications. WhileRead More

2019-4-2 21:00