It has been reported that the US Securities and Exchange Commission (SEC) has decided to delay the approval process for the Ethereum Spot ETF application, which was submitted jointly by ARK Invest and 21Shares.
This move by the SEC has surprised many in the ETF industry, including experts like James Seyffart from Bloomberg, who shared his thoughts on the situation.
He expressed his surprise, saying, “Wow. We thought that was enough for today, but the SEC also postponed ARK Invest and 21Shares’ Ethereum application, which was only published on September 21 and will not be decided until early November. We expect VanEck’s application to be postponed as well…”
This delay in the approval process means that the fate of the Ethereum Spot ETF proposed by ARK Invest and 21Shares will remain uncertain until at least early November. It’s worth noting that this application was only recently made public on September 21.
The decision by the SEC to postpone the Ethereum Spot ETF application adds to the growing anticipation and uncertainty surrounding the approval of cryptocurrency-related ETFs.
Many are closely watching these developments, as they could have a significant impact on the crypto market and provide more accessibility to digital assets for mainstream investors.