The US Securities and Exchange Commission (SEC) has postponed its judgment on whether to approve the Hashdex Nasdaq Ethereum exchange-traded fund.
This comes as the regulator decided to postponed the decision on May 30, 2024, and the fund will hold ether spot and futures contracts if approved. The Nasdaq Stock Exchange (NSE) filed an application with the SEC in September, and Toroso Investments administers and controls the fund.
In addition, the SEC solicited public comment on the ETF in December and has postponed a decision on many occasions. Also, the SEC has postponed its decision on the ARK 21Shares Ethereum ETF, which tracks the performance of ether, until May 24, 2024.
In light with this, the SEC has also requested public input on this proposal. The chance of a spot Ethereum ETF clearance by May has decreased, with Eric Balchunas, an ETF analyst at Bloomberg, reducing his forecast from 70% to 30%.
Recently, Grayscale has submitted an updated application for a spot Ethereum ETF to the US SEC. The firm notes that the triumph of Ethereum futures ETFs bolsters the argument for a direct Ethereum ETF.
Ethereum is currently trading below $3,100, down over 8.4% in the last 24 hours.
