tl;dr
The Securities and Exchange Commission has delayed decision-making on a proposed spot Ethereum ETF from investment giant BlackRock for the second time, along with several other spot Ethereum ETF applications. Interest in spot Ethereum ETFs is intensifying as Bitcoin surges toward a new all-time high...
The Securities and Exchange Commission has delayed decision-making on a proposed spot Ethereum ETF from investment giant BlackRock for the second time, along with several other spot Ethereum ETF applications. Interest in spot Ethereum ETFs is intensifying as Bitcoin surges toward a new all-time high, creating pent-up demand, and the upcoming Dencun upgrade for the Ethereum network is seen as a bullish signal. ETFs based on Ethereum futures have been available since October.
The original iShares Ethereum Trust application, submitted in November, has been delayed twice, with the SEC asserting the need for a “longer period within which to take action.” Along with BlackRock's application, the SEC has delayed decisions on several other spot Ethereum ETF applications, including from Fidelity, Invesco, and Galaxy Digital. Bloomberg ETF analyst James Seyffart predicted that delays would continue until May 23, the drop-dead deadline for applications from VanEck and Ark Invest.
Interest in spot Ethereum ETFs is intensifying as Bitcoin surges toward a new all-time high, with the possibility of the same success seen with spot Bitcoin ETFs creating pent-up demand for Ethereum. The upcoming Dencun upgrade for the Ethereum network is also viewed as a bullish signal. Additionally, ETFs based on Ethereum futures have been available since October, further adding to the growing interest in Ethereum-based investment products.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.