SEC Postpones Grayscale's Application for Ethereum - Coin Newsletter

The U.S. Securities and Exchange Commission (SEC) has again postponed Grayscale's application for a spot Ethereum ETF.

While explaining the reason for the postponement of the application, the SEC pointed to the proof-of-stake algorithm used in Ethereum and whether it would lead to the "concentration of control or influence in the hands of a few individuals or institutions" in the network.

According to the statement made by the SEC, a response can be made for 21 days regarding the institution's postponement decision. There will be a 35-day deadline to refute the concerns raised by the agency.

The agency, which oversees the securities market, recently decided to postpone spot Ethereum ETF applications made by BlackRock and Fidelity.

Cryptocurrency experts are divided on whether or not spot Ethereum ETFs should be approved. According to Bloomberg Intelligence analyst James Seyffart, the next important date for spot Ethereum ETFs is May 23.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)