The Securities and Exchange Commission has announced a delay in its decision regarding BlackRock’s proposal for an Ethereum exchange-traded fund (ETF).
In a filing on Monday, the SEC stated that this is the second time it has postponed its decision for BlackRock’s iShares Ethereum Trust.
The agency has also asked for public input on whether or not the ETF should be approved, specifically addressing concerns about Ethereum’s proof of stake mechanism potentially leaving it vulnerable to fraud and manipulation.
In addition to BlackRock’s proposal, the SEC has also delayed a decision on Fidelity’s spot Ethereum ETF.
Both companies initially filed for their ETFs in November, and since then, other firms such as Franklin Templeton, Ark 21Shares, VanEck, and Grayscale have also submitted proposals.
While BlackRock, Fidelity, and other companies have successfully launched spot bitcoin ETFs after receiving approval from the SEC earlier this year, there is still uncertainty surrounding a potential spot ether ETF.
