The U.S. Securities and Exchange Commission (SEC) postponed its decision regarding Grayscale‘s proposal for spot Ethereum ETF. The SEC prolonged the review period to June 23. This ruling represents another postponement in the approval process of ETFs based on cryptocurrency in the US.
Grayscale filed Form 19b-4 with NYSE Arca in October to approve the transition of its current Ethereum Trust into a spot ETH ETF. In January, Grayscale converted its Bitcoin Trust into a spot Bitcoin ETF.
Grayscale Faces Delay in Ethereum ETF Approval
The SEC decision to delay is further premised on the concerns and amendments under consideration relevant to the proposal. The regulator said that the modifications require longer terms for their assessment and ironing out any problems. The amended proposal is being subjected to comprehensive scrutiny to ensure its compliance with all regulatory requirements.
This problem is not specific to Grayscale. Other asset managers have also seen their similar appli
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