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📢 UPDATE: SEC Prolongs Evaluation Period for Blackrock's Ethereum Spot ETF until March 10.
The US Securities and Exchange Commission (SEC) has granted an extension for reviewing BlackRock’s proposed iShares Ethereum Trust spot ETF. Initially submitted by The Nasdaq Stock Market on November 21, 2023, the request aims to offer direct exposure to Ethereum’s price movements. The SEC has extended the decision deadline to March 10, 2024, from the original January 25, 2024, indicating the need for additional time to thoroughly assess the proposal and address concerns surrounding a spot Ethereum ETF.
Despite being open for public comment since December 11, 2023, the proposal has not yet received any public feedback. This extension mirrors the SEC’s cautious stance on crypto-based ETFs in a changing regulatory landscape. BlackRock, as the world’s largest asset manager, continues to lead in integrating digital assets into traditional investments. However, the SEC's cautious approach highlights ongoing worries about crypto product volatility, security, and regulatory compliance. The prolonged review period underscores the SEC’s commitment to a comprehensive evaluation, ensuring potential risks associated with the iShares Ethereum Trust are adequately considered.
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