SEC Delays Decision on Grayscale's Spot Ether ETF Approval, Sets New Deadline
The United States Securities and Exchange Commission (SEC) has postponed its decision on whether to approve or disapprove Grayscale's spot Ether exchange-traded fund (ETF) offering. The SEC will take more time to consider a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. This decision comes after an appellate court ordered the SEC to review Grayscale's Bitcoin ETF offering. The SEC has never approved a spot BTC or ETH ETF for listing on a U.S. exchange, but it has given the green light to investment vehicles tied to crypto futures. Bloomberg ETF analyst James Seyffart speculated that simultaneous approvals of funds from multiple firms could follow if the SEC approves a spot BTC ETF. Grayscale filed to convert its Grayscale Ethereum Trust into a spot Ether ETF in October, joining other companies awaiting a decision from the regulator.
