The U.S. Securities And Exchange Commission (SEC) has once again delayed the decision on whether to approve or disapprove Ethereum ETFs.
On December 18, the SEC said that it was instituting proceedings for Grayscale Ethereum Futures Trust and Hashdex Nasdaq Ethereum ETF with asking for public input if these ETFs should be allowed to list. The agency also shared the same for VanEck Ethereum ETF and ARK 21Shares Ethereum ETF in separate filings.
While the law enforcement agency has approved a futures-based Ethereum ETF before, this time institutions are seeking spot Ether or mixed fund ETF approval. In October, the agency gave the green signal to nine major applicants to offer Ether-based futures ETFs. However, these Ethereum Futures ETFs failed to gain attention even on launch day.
Last month, the SEC delayed the Hashdex Nasdaq Futures ETF, which wants to have both spot Ether and futures contracts. It will be managed by Toroso Investments, a CFTC registered commodity pool operator.
As the SEC is slowly giving hope for spot ETFs for crypto assets, the crypto community is eagerly waiting for the approval of much anticipated spot Bitcoin ETFs. Several analysts have predicted that the approval could bring massive inflow in Bitcoin and essentially into the whole crypto market.
Also read: BlackRock’s Spot Bitcoin ETF Ticker Revealed in SEC Filing
