The U.S. Securities and Exchange Commission (SEC) is postponing its decisions on several Bitcoin (BTC) and Ethereum (ETH) exchange-traded fund (ETF) applications until next year.
In new filings, the regulator says it will delay its decisions on applications from asset management firm Hashdex to create a mixed spot and futures ETF on Ethereum and to convert a Bitcoin futures ETF into a spot market ETF.
The SEC says it will also delay its decision on crypto firm Grayscale’s offering of an ETH futures ETF.
In the statements, the SEC says it needs more time to consider the proposed changes, extending the original deadline of November 17 to January 1, 2024.
“The Commission extends [the] Period of 45 days. The Commission considers it appropriate to set a longer period of time within which to take action on the proposed rule change in order to allow it sufficient time to consider the proposed rule change and the issues raised therein.
Accordingly, pursuant to section 19(b)(2) of the Act, the Commission sets January 1, 2024, as the date by which the Commission must either approve or reject the proposed rule change or initiate a proceeding to determine whether to reject it .”
According to the documents, all three applications were originally submitted on October 3, 2023.
Earlier this week, BlackRock – the largest investment firm in the world with over $8 trillion in assets under management – filed with the SEC to create a spot market Ethereum ETF.
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