According to PANews, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the VanEck Ethereum spot ETF, as revealed in a public document on Wednesday. The SEC stated that it will decide whether to approve the ETF by May 23, 2024, and is seeking public input.
The delay in the decision comes as the SEC continues to evaluate the potential risks and benefits associated with cryptocurrency-based ETFs. The VanEck Ethereum spot ETF, if approved, would provide investors with exposure to the Ethereum market without the need to directly purchase and hold the cryptocurrency.
As the regulatory body seeks public opinion on the matter, it remains to be seen how the SEC's decision will impact the future of cryptocurrency-based ETFs in the United States.