- SEC postponed its verdict on the applications for spot Ethereum ETFs from BlackRock and Fidelity.
- Price of ETH remained unaffected and continued to grow.
The United States Securities and Exchange Commission (SEC) decided to postpone its determination on the approval or rejection of Ethereum [ETH] exchange-traded funds (ETFs) submitted by BlackRock and Fidelity, according to filings made on the 4th of March.
Some delays
In January, the SEC initially deferred its decision on the Ethereum ETF applications from BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund, shortly after granting approval for several spot Bitcoin [BTC] ETFs.
The regulatory body has the option to delay its decision up to three times before reaching a final verdict.
Market observers and ETF analysts had long anticipated the SEC’s delay, speculating that a decision on approving or denying the ETFs would likely coincide with the approaching final deadline in May.
Bloomberg ETF analyst James Seyffart emphasized 23rd May as the crucial date, marking the deadline for VanEck’s spot ETH ETF application.
Source: X
However, opinions vary on the significance of a spot Ether ETF compared to spot Bitcoin ETFs.
While BlackRock’s iShares Bitcoin ETF has already amassed an impressive $10 billion in assets under management, Bloomberg ETF analyst Eric Blachunas expressed reservations about the impact of the yet-to-be-approved Ethereum funds, describing them as “small potatoes” in comparison to their Bitcoin counterparts.
Despite this, Blachunas and Seyffart planned to provide formal odds on the likelihood of an ETH ETF approval.
Source:X
Potential impacts
The prolonged uncertainty surrounding the approval of ETH ETFs can contribute to an atmosphere of unpredictability within the cryptocurrency market.
Investors and enthusiasts eagerly await regulatory decisions as they can significantly influence market dynamics. The repeated delays by the SEC may lead to frustration and impatience amongst investors.
Moreover, the delay might be interpreted by some as a lack of regulatory clarity for Ethereum-related financial products.
Unlike Bitcoin, which recently saw a successful rollout of spot Bitcoin ETFs, the repeated postponements for Ethereum ETFs could create a perception that Ethereum’s regulatory framework is less defined or more challenging to navigate.
The comparative hesitation and cautiousness of the SEC in approving Ethereum ETFs, especially when contrasted with the swift approval of Bitcoin ETFs, could signal potential concerns or reservations specific to Ethereum.
Realistic or not, here’s ETH’s market cap in BTC’s terms
Despite these factors, the price of ETH continued to soar. At press time, ETH was trading at $3,469.49 and its price rose by 1.56% in the last 24 hours.
The volume at which ETH was trading had spiked as well and had increased from 12.15 billion to 22.9 billion during this period.
Source: Santiment
- SEC postponed its verdict on the applications for spot Ethereum ETFs from BlackRock and Fidelity.
- Price of ETH remained unaffected and continued to grow.
The United States Securities and Exchange Commission (SEC) decided to postpone its determination on the approval or rejection of Ethereum [ETH] exchange-traded funds (ETFs) submitted by BlackRock and Fidelity, according to filings made on the 4th of March.
Some delays
In January, the SEC initially deferred its decision on the Ethereum ETF applications from BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund, shortly after granting approval for several spot Bitcoin [BTC] ETFs.
The regulatory body has the option to delay its decision up to three times before reaching a final verdict.
Market observers and ETF analysts had long anticipated the SEC’s delay, speculating that a decision on approving or denying the ETFs would likely coincide with the approaching final deadline in May.
Bloomberg ETF analyst James Seyffart emphasized 23rd May as the crucial date, marking the deadline for VanEck’s spot ETH ETF application.
Source: X
However, opinions vary on the significance of a spot Ether ETF compared to spot Bitcoin ETFs.
While BlackRock’s iShares Bitcoin ETF has already amassed an impressive $10 billion in assets under management, Bloomberg ETF analyst Eric Blachunas expressed reservations about the impact of the yet-to-be-approved Ethereum funds, describing them as “small potatoes” in comparison to their Bitcoin counterparts.
Despite this, Blachunas and Seyffart planned to provide formal odds on the likelihood of an ETH ETF approval.
Source:X
Potential impacts
The prolonged uncertainty surrounding the approval of ETH ETFs can contribute to an atmosphere of unpredictability within the cryptocurrency market.
Investors and enthusiasts eagerly await regulatory decisions as they can significantly influence market dynamics. The repeated delays by the SEC may lead to frustration and impatience amongst investors.
Moreover, the delay might be interpreted by some as a lack of regulatory clarity for Ethereum-related financial products.
Unlike Bitcoin, which recently saw a successful rollout of spot Bitcoin ETFs, the repeated postponements for Ethereum ETFs could create a perception that Ethereum’s regulatory framework is less defined or more challenging to navigate.
The comparative hesitation and cautiousness of the SEC in approving Ethereum ETFs, especially when contrasted with the swift approval of Bitcoin ETFs, could signal potential concerns or reservations specific to Ethereum.
Realistic or not, here’s ETH’s market cap in BTC’s terms
Despite these factors, the price of ETH continued to soar. At press time, ETH was trading at $3,469.49 and its price rose by 1.56% in the last 24 hours.
The volume at which ETH was trading had spiked as well and had increased from 12.15 billion to 22.9 billion during this period.
Source: Santiment
can i purchase generic clomid pills can i get clomid for sale clomid medication for women how to get clomid no prescription order clomiphene online how to get cheap clomid without prescription buying cheap clomid without dr prescription
Thanks an eye to sharing. It’s top quality.
This is the make of advise I recoup helpful.
azithromycin uk – buy flagyl pills generic metronidazole 400mg
order semaglutide – semaglutide generic order cyproheptadine 4 mg without prescription
buy domperidone without a prescription – cheap tetracycline 250mg order cyclobenzaprine generic
order inderal 10mg sale – order plavix 75mg pill methotrexate 2.5mg pill
amoxicillin sale – amoxil usa combivent for sale online
augmentin 1000mg oral – https://atbioinfo.com/ order generic ampicillin
esomeprazole ca – anexa mate nexium generic
warfarin order online – https://coumamide.com/ losartan over the counter
meloxicam 15mg us – mobo sin buy meloxicam 7.5mg sale
purchase prednisone pills – https://apreplson.com/ order prednisone for sale
buy erectile dysfunction drugs – buy ed pills no prescription ed pills comparison
buy generic amoxil online – comba moxi amoxil over the counter
fluconazole 200mg brand – on this site buy diflucan cheap
buy cenforce tablets – how to buy cenforce order cenforce generic
cialis canada free sample – click us cialis online pharmacy
buy zantac 300mg without prescription – online order zantac 150mg pills
viagra 50 mg – strong vpls how can i order viagra online
Thanks on putting this up. It’s well done. https://buyfastonl.com/gabapentin.html
This is the compassionate of criticism I rightly appreciate. https://ursxdol.com/get-cialis-professional/
I’ll certainly carry back to be familiar with more. https://prohnrg.com/product/diltiazem-online/