May 24, 2024
SEC Extends Deadline for Grayscale's Ethereum ETF Decision by 45 Days
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SEC Extends Deadline for Grayscale’s Ethereum ETF Decision by 45 Days

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for the decision on Grayscale Investments’ spot Ethereum ETF by 45 days, pushing it to January 25, 2024.

As per the statement, the Commission can choose to prolong the evaluation period if it deems it necessary and provides justification or if the self-regulatory organization agrees.

“The Commission deems it appropriate to extend the timeframe for taking action on the proposed rule change to ensure ample time for a thorough examination of the proposed rule and the issues it presents” stated the SEC.

In November, officials from the SEC’s trading and markets department engaged in discussions with Grayscale Investments representatives to assess the potential conversion of Grayscale’s publicly traded Bitcoin Trust into a Bitcoin spot ETF. The meeting, which included David Shillman, deputy director of the SEC’s Division of Trading and Markets, responsible for overseeing U.S. equity, options, and fixed-income markets, took place.

Furthermore, the SEC postponed its decision on Hashdex’s request to launch a Bitcoin spot ETF until January 1, 2024. Concurrently, the Commission also delayed the verdict on Grayscale’s proposal to introduce an ETF based on Ethereum futures.

Image by Flickr

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