Key Points:

• The SEC extends its decision on the Grayscale Ethereum ETF.
• The crypto industry anticipates SEC approval for spot ether ETFs, as the regulatory body has previously sanctioned ether futures-based ETFs.
• Coinbase’s plea for new digital asset sector rules is rejected by the SEC.

According to Reuters, the U.S. Securities and Exchange Commission (SEC) has extended the timeline for a decision on the Grayscale Ethereum ETF, as disclosed in a regulatory filing on Monday. 

SEC Extends Decision Timeframe for Grayscale Ethereum ETF Amid Industry Anticipation

This delay follows a pattern affecting various firms, including the postponement of the Hashdex Ethereum ETF, as revealed in a separate filing on the same day. In response to these developments, the SEC has initiated proceedings for both the Hashdex Ethereum ETF and the Grayscale Ethereum ETF. The regulatory body is seeking public input on whether these exchange-traded funds should be permitted to list, according to official filings made on Monday. While the SEC has previously given approval for an Ether futures-based ETF, it has yet to greenlight a spot Ether or mixed fund. Notably, in October, nine futures-based products received simultaneous approval, marking their debut in the market. The crypto industry is closely monitoring the SEC’s stance on spot Bitcoin ETFs, with various firms engaging with the agency’s staff over the past month to discuss critical details. The SEC had previously deferred a decision on the Hashdex Nasdaq Ethereum ETF last month, which aims to hold both spot Ether and futures contracts and is managed by Toroso Investments. This delay comes in the wake of the SEC’s denial of a petition by Coinbase last week, wherein the exchange sought new rules for the digital asset sector. Coinbase has since filed a petition for a review of the decision in court.

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