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They US SEC delays Grayscale Ethereum ETF decision again, now aiming for May 2024

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The Securities and Exchange Commission has postponed its verdict on Grayscale's Ethereum futures ETF

The US Securities and Exchange Commission (SEC) has postponed its verdict on Grayscale’s Ethereum futures ETF, setting a new deadline of May 30, 2024.

The delay is to allow more time for thorough consideration of the proposal and related concerns. Bloomberg’s ETF analyst James Seyffart predicted this delay recently. This suggests that Grayscale’s strategy is more sophisticated than it appears.

Seyffart believes Grayscale is using the delay strategically to challenge the SEC’s stance and push for the approval of a spot Ethereum ETF.

This is not the first time the US SEC has extended its review of Grayscale’s Ethereum futures ETF, with a previous extension announced in December.

The industry is keenly interested in spot ether ETFs, which offer a direct investment opportunity in Ethereum without the complexities of managing cryptocurrency directly. Major financial entities, including Fidelity and BlackRock, have submitted applications for such ETFs.

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