ETF Ethereum Spot: the US SEC reveals the date!

BlackRock, the financial giant, unveils its ambitions with an application for a spot Ethereum ETF. However, the US SEC is playing for time, pushing the decision to March. Larry Fink, confident, aims for approval, but Gary Gensler, head of the SEC, leaves doubt hanging in the air. Between hopes and uncertainties, the crypto world is holding its breath.

A Spot Ethereum ETF in March, really?

Following the dance of Bitcoin Spot ETFs, BlackRock now wants to take Ethereum spot trading for a spin. Larry Fink, the maestro at BlackRock, firmly believes in his ETH Spot ETF, already approved on January 10 alongside a myriad of other products. A vivid wish that, according to him, will rocket ETH into the stars of institutional finance.

But the SEC is not ready to be easily swept away by these ETH Spot ETFs.

The U.S. SEC has pushed back the timetable for a decision on BlackRock’s proposed spot Ethereum ETF until March. The SEC now faces a March 10 deadline to approve, reject or take additional proceedings against the proposed fund. The next important date to watch is May 23,…

— Wu Blockchain (@WuBlockchain) January 25, 2024

“The US SEC has postponed the timeline for the decision on BlackRock’s proposed Spot Ethereum ETF to March. The SEC now has until March 10 to approve, reject, or initiate further proceedings against the proposed fund. The next important date to watch is May 23, according to James Seyffart, an analyst at Bloomberg.“

According to The Block, the SEC has announced that it will not make any decisions on these spot Ethereum ETFs before March. March 10th could be the day when the SEC, with its regulatory broom, will sweep through the approval requests from BlackRock, ARK 21 Shares, VanEck, and Fidelity.

As usual, Bloomberg’s keen financial analyst, James Seyffart, has looked into his crystal ball regarding the Ethereum ETFs. Predicting their validation in May, he left this gem on his account X:

“The delays of the Spot Ethereum ETFs will continue to occur sporadically over the coming months. The next date that counts is May 23“

Gary Gensler, the SEC’s dance master, has his say!

Spot Ethereum ETFs are stirring up passions among analysts: between those who already see the SEC saying “yes” to an ETH waltz and the skeptics who rather hear a resounding “no.”

Gary Gensler, the current conductor of the SEC, has already suggested that for spot trackers linked to assets other than Bitcoin, the music might not play in their favor.

“As I mentioned two weeks ago, our playbook for exchange-traded products linked to Bitcoin is confined to this product in particular. There’s no need to read anything more into it“, he stated on Wednesday.

For the record, BlackRock’s application for a Spot Ethereum ETF was filed in November 2023.