SEC Delays Decision on Grayscale Spot Ethereum ETF

Briefly

the proposal for a Grayscale spot Ethereum exchange-traded fund (ETF) has been extended by the SEC.
The public comment period on the proposal, which began on October 10, 2023, lasted until October 27, 2023.
Although the SEC legally has 45 days to make a decision on such proposals, it has decided to use the entire 90 days.

The SEC has decided to give Grayscale’s proposal for a spot Ethereum ETF more thought. Allowing individuals to purchase and sell shares of the Grayscale Ethereum trust on the NYSE Arca market is the subject of the proposal.

This modification was first requested by NYSE Arca on October 10, 2023. Everybody got an opportunity to share their considerations about it until October 27, 2023.

SEC Delays Grayscale Spot Ethereum ETF Decision

The SEC announced its decision to delay the Grayscale spot Ethereum ETF in a recent filing.

By regulation, the SEC has 45 days to settle on these sorts of proposition, yet they can require as long as 90 days on the off chance that they need additional time.

The proposal’s 45th day was December 11, 2023, but the SEC says it wants more time to really understand everything.

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

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