SEC Delays Grayscale Application for Ethereum (ETH) Spot ETF

A week after delaying Fidelity's spot Ethereum ETF application, the SEC has again delayed its decision on Grayscale's spot Ethereum ETF application.

Interestingly, the SEC specifically asked whether Ethereum's proof-of-stake consensus mechanism and "concentration of control or influence by a few individuals or entities" could pose unique problems in making the fund susceptible to fraud and manipulation. .

The crypto asset community will be closely watching May 23, when the SEC must make its final decision whether to approve or reject a VanEck spot ethereum ETF application.

As we saw with bitcoin spot ETF applications, if VanEck's ethereum ETF were approved in May, it is likely that all current spot ethereum applications would be approved at the same time as well.

#Ethereum #ETH $ETH #Bitcoin #BTC $BTC $BNB #ETF