The application for BlackRock’s spot Ethereum exchange-traded fund has been delayed by the US Securities and Exchange Commission, according to a Wednesday filing.
The top Wall Street regulator has identified the need for more time to evaluate the application. BlackRock, the largest fund manager in the world, submitted the application in November for an ETF focused on Ethereum (ETH).
If approved, the ETF would provide investors with exposure to the second-largest cryptocurrency by market cap.
BlackRock CEO Larry Fink expressed support for an Ethereum ETF in a recent CNBC interview, stating that its approval would be a significant step towards tokenization.
BlackRock’s spot Bitcoin ETF was approved and began trading on January 10. As the most successful of the 10 ETFs currently available, the iShares Bitcoin Trust has amassed $1.7 billion in assets under management.
