SEC delays decision on Grayscale Ethereum ETF again

Similar to pending applications for spot ETFs, ETF applications for futures ETFs will also be in an uncertain period of time.

The U.S. Securities and Exchange Commission announced a delay in its decision to approve Grayscale Ethereum Futures Trust’s Ethereum ETF application, according to documents filed on Friday. The new deadline is May 30.

According to the Securities Exchange Act of 1934, the U.S. Securities and Exchange Commission has a period of up to 180 days to review and decide whether to approve the rule change after proposing a rule change. Grayscale submitted its application, initially in September, but the agency delayed a decision in November. This is within the time stipulated by law, and the Securities and Exchange Commission has the power to review and make a decision within 180 days.

The SEC stated that a longer time period is needed to issue an order approving or disapproving the proposed rule changes so that the Commission has sufficient time to conduct an in-depth study of these proposed rule changes and the issues involved. This position is consistent with the SEC’s previous position.

The Bitcoin and Ethereum ETF is an investment vehicle designed to track the price performance of digital currency markets and is listed for trading on traditional stock exchanges. This provides investors with a convenient way to participate in the cryptocurrency market without directly holding digital tokens. Futures ETFs focus on the future price performance of an asset, while spot ETFs track current prices in real time. Through these ETFs, investors can participate in cryptocurrency investments through the securities market without purchasing digital currencies directly. This form of investment vehicle provides an option for investors who wish to make profits in the digital currency market but are unwilling to bear the risk of direct holdings. The emergence of ETFs adds

to the cryptocurrency market

The SEC approved 11 Bitcoin ETFs in January but delayed a decision on Grayscale and BlackRock’s spot Ethereum ETF applications. The following month, the SEC postponed the decision of investment companies Invesco and Galaxy Digital to jointly apply for a spot Ethereum ETF.

The SEC’s decision on the Grayscale Ethereum Futures ETF may disappoint cryptocurrency investors and enthusiasts, but some believe the delay will be beneficial to the development of Bitcoin ETFs. The SEC’s decision delays the launch of Grayscale’s product, which may increase the appeal of Bitcoin ETFs and allow more investors to accept this new type of investment vehicle. While the current situation may be disappointing, this delay may lead to more positive changes and development opportunities for the cryptocurrency market as a whole. This decision may become the future

On Tuesday, Bitwise CIO Matt Hougan said on "

The SEC’s delay in its Ethereum ETF decision has added to the negative pressure driving Ethereum prices lower. On Friday, Ethereum was down 10.4% for the week and is currently trading at $3,358 according to Coingecko.

The above is the detailed content of SEC delays decision on Grayscale Ethereum ETF again. For more information, please follow other related articles on the PHP Chinese website!