SEC Delays Decision on Grayscale Spot Ethereum ETF

Watch Icon
BeInCrypto

The SEC has decided to take more time to think about a proposal from Grayscale for a spot Ethereum ETF. The proposal is about permitting people to buy and sell shares of the Grayscale Ethereum trust on the NYSE Arca market.

NYSE Arca first asked for this change on October 10, 2023. Everyone had a chance to share their thoughts about it until October 27, 2023.

SEC Delays Grayscale spot Ethereum ETF Decision

In a recent filing, the SEC has announced its decision to delay Grayscale spot Ethereum ETF.

By law, the SEC has 45 days to decide on these kinds of proposals, but they can take up to 90 days if they need more time.

The 45th day for this proposal was supposed to be December 11, 2023, but the SEC says it wants to take longer to really understand everything.

At the time of publication, Ethereum’s current price is $2,296.

Ethereum Price Chart 1 Month. Source: BeInCrypto

Read more: How To Buy Ethereum (ETH) With a Credit Card: A Step-by-Step Guide

So, instead of December 11, the new deadline for the SEC to make up its decision is January 25, 2024.

The SEC want to make sure all avenues are considered carefully before saying yes or no.

Grayscale first filed for a spot Ethereum ETF on October 2. BeInCrypto reported at the time, that the asset manager comprises 2.5% of the total ETH in circulation.

Read more: How to Buy Ethereum (ETH) and Everything You Need to Know

Top crypto platforms | December 2023

Kraken Explore → BYDFi Explore → KuCoin Explore → Binance Explore → MEXC Explore → Explore more

The post SEC Delays Decision on Grayscale Spot Ethereum ETF appeared first on BeInCrypto.

 
More News

Ripple’s Navin Gupta Stresses the Importan...

Watch Icon
Last updated

Navin Gupta, Ripple’s Managing Director of South Asia, Middle East, and North Africa. Source: Ripple / X Navin Gupta, the Managing Director of South Asia, Middle East, and North Africa at the US blockchain and payments firm Ripple, has reiterated the necessity of adopting an activity-based approach to crypto regulation. Speaking in an interview with The post Ripple’s Navin Gupta Stresses the Importance of Activity-Based Crypto Regulation – Here’s What You Need to Know appeared first on Cryptonews.

Spain Halts Sam Altman’s Worldcoin Eyeball...

Watch Icon
Last updated

Spain's data regulator, the Agencia Española de Protección de Datos (AEPD), has instructed Sam Altman's cryptocurrency project, Worldcoin, to halt its operations in the country. This includes stopping the collection of private data through eye scans and ceasing the use of previously gathered data, according to reports published in the Financial Times. Spain is the first European country to suspend Worldcoin over privacy concerns. The post Spain Halts Sam Altman’s Worldcoin Eyeball-Scanning Venture Over Data Concerns appeared first on Cryptonews.

Back to Top