SEC Puts Off its Decision on BlackRock’s Spot Ethereum ETF
On January 24, the SEC announced the extension of the decision period for BlackRock’s proposed spot Ethereum ETF.
This decision pertains to a proposed rule change that would allow Nasdaq to list and trade shares of the BlackRock iShares Ethereum Trust.
Previously, the SEC was required to make a decision by January 25, 2024, but they are now permitted to extend this period until March 10, 2024 under securities laws.
The SEC also noted that Nasdaq filed the proposal on November 21st, 2023 and it was published for public comment on December 11, 2023, which determines the relevant deadlines. No comments have been received on BlackRock’s proposed Ethereum ETF, while their Bitcoin ETF received 15 comments within two months of its filing in June 2023.
This delay is not expected to impact other Ethereum ETF proceedings, and the next relevant date is May 23 when the SEC must make a decision on VanEck’s spot Ethereum ETF without the possibility of further delays.
