#BlackRock #EthereumETF #FidelityEthereumFund #SECEthereumDecision #Cryptocurrency #Investment #Blockchain #CryptoRegulation
The U.S. SEC has postponed the decision on approving BlackRock’s Ethereum ETF till March. Along with it, Fidelity’s application for an Ethereum fund has been put on hold too, extending the deliberation period. This course of action, according to a filing made by the commission, is designed to provide enough time to closely scrutinize and contemplate the proposed rule change and the issues surrounding it. As a result, the commission has set a deadline of 10th March to either approve, reject, or launch additional proceedings on the proposed ETF.
BlackRock had registered an application for a spot Ethereum ETF, the iShares Ethereum Trust, back in November 2023. Expected to pave the way for investor exposure to the world’s second-largest crypto market-wise, the ETF carries immense potential. Larry Fink, BlackRock’s CEO, sees substantial value in securing an Ethereum ETF and regards it as a significant milestone toward tokenization. On the same card, the success story of BlackRock’s iShares Bitcoin Trust, which has $1.7 billion in assets under management, aggressively leads the pack of Bitcoin ETFs currently trading in the market.
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