Cryptocurrency

SEC pushes deadline to decide on Grayscale spot Ether ETF

The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove of a spot Ethereum exchange-traded fund, or ETF, offering from asset manager Grayscale.

In a Dec. 5 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. The commission’s announcement was one of the first following an appellate court ordering the SEC to review Grayscale’s Bitcoin (BTC) ETF offering in October.

“The Commission finds it appropriate to designate a longer 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,” said the SEC. “Accordingly, the Commission […] designates January 25, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”

This is a developing story, and further information will be added as it becomes available.

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