Similar to the Bitcoin ETF, the SEC chose to delay two Ethereum spot ETF proposals from Wall Street giants.
The SEC delays two Ethereum spot ETF proposals from ARK Invest and VanEck
In the hottest ruling at dawn on September 28 (Vietnam time), the US Securities and Exchange Commission (SEC) announced a delay in its selection on two Ethereum spot ETF proposals from ARK Invest and VanEck. The new deadline has been moved by the SEC to December 26th.
And right here @vaneck_us‘ delay as anticipated https://t.co/uloOidbfd1 pic.twitter.com/i4Hhv5yhiR
—James Seyffart (@JSeyff) September 27, 2023
These two proposals had been announced a single immediately after the other in early September, as reported by Coinlive.
Oddly, the SEC chose to delay the two Ethereum spot ETF proposals much less than a month immediately after their announcement, rather than waiting the typical 45-day deadline.
The day prior to, on September 27, the SEC also announced a delay in its selection on two Bitcoin spot ETF proposals from ARK Invest and Global X.
The U.S. Securities and Exchange Commission, beneath the leadership of Chairman Gary Gensler, has not accredited any spot ETF proposals due to considerations about the chance of market place manipulation and fraud in the cryptocurrency market place.
On the other hand, the SEC has commenced calculating the overview time for Franklin Templeton’s Bitcoin spot ETF proposal and Hashdex’s hybrid cryptocurrency ETF proposal.
ETF analysts Bloomberg It is estimated that there is a substantial probability that the SEC will approve the Ethereum futures ETF to start with, with a probability of approval as substantial as 90% in October.
UPDATE: I hear the SEC desires to velocity up the launch of Ether futures ETFs (due to the fact they want it off the table due to the shutdown), so they’ve asked filers to update their filings by Friday afternoon (no compact job to be framed in 48 hrs, specially for independent issuers), so they can go eff on Monday and trade on Tuesday. https://t.co/gKyQFK12aM
— Eric Balchunas (@EricBalchunas) September 28, 2023
The cryptocurrency market place more than the previous two months has witnessed the large physical appearance of a series of Ethereum futures ETF proposals from a lot of big Wall Street companies.
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