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The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on BlackRock’s proposed spot Ethereum exchange-traded fund (ETF), citing the necessity for additional review time. The SEC faces an August 7 deadline for the final decision on BlackRock’s spot Ether ETF, with predictions from Bloomberg ETF analyst Eric Balchunas suggesting a collective decision on all pending spot Ether ETFs may occur in May, akin to the SEC’s approach to 10 pending spot Bitcoin ETFs in January.

 

 

 

In a parallel move, the SEC postponed its decision on Grayscale Investments’ spot Ether ETF, allowing public comments on the application. The SEC intends to conduct proceedings to determine approval or disapproval of a proposed rule change, enabling NYSE Arca to list and trade Grayscale Ethereum Trust shares. This public comment period extends the decision deadline by an additional 35 days upon publication in the Federal Register.

 

 

 

 

Despite the delay, the SEC remains a consistently stringent regulatory force in the U.S. crypto space. A report from litigation consulting firm Cornerstone Research reveals that in 2023, the SEC initiated the highest number of crypto-related enforcement cases since 2013, emphasizing the commission’s focus on digital assets. Among the 46 enforcement actions in 2023, the SEC imposed $281 million in monetary penalties for settlements and tripled the number of administrative proceedings compared to 2022.

 

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