The US Securities and Exchange Commission (SEC) is postponing its decisions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) applications until next year.
In new documents, the regulator says it will postpone its decisions on applications filed by asset manager Hashdex to create a mixed spot and futures Ethereum ETF and convert a Bitcoin futures ETF into a spot market ETF.
The SEC says it will also reverse its decision on crypto firm Grayscale’s bid for an ETH futures ETF.
In the statements, the SEC said it needs more time to consider the proposed changes and is extending the original deadline from November 17 to January 1, 2024.
“The Commission is expanding [the] Duration of 45 days. The Commission believes it is appropriate to establish an extended period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.
Accordingly, pursuant to section 19(b)(2) of the Act, the Commission designates January 1, 2024 as the date on which the Commission approves or disapproves the proposed rule change or initiates a proceeding to determine whether or not to approve or disapprove the proposed rule change. should not disapprove. .”
According to the documents, all three applications were originally filed on October 3, 2023.
Earlier this week, BlackRock – the largest investment firm in the world with more than $8 trillion in assets under management – filed with the SEC to create a spot market Ethereum ETF.
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