The United States Securities and Exchange Commission has delayed its decision regarding whether to approve or deny spot ether (ETH) exchange-traded fund, or ETF, offering from asset manager Grayscale.
In a December 5 notice, the SEC Said It would specify a longer period to approve or disapprove the proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust. The commission’s announcement was one of the first after the appellate court Ordering the SEC To review Grayscale’s Bitcoin (B T c) ETF offering in October.
“The Commission considers it appropriate to set a longer period for taking action on the proposed rule change so that it will have sufficient time to consider the proposed rule change and the issues raised therein,” the SEC said. “Accordingly, the Commission […] January 25, 2024 has been designated as the date by which the Commission will either approve or disapprove the proposed rule change, or begin proceedings to determine whether to disapprove.
This is a developing story, and more information will be added as it becomes available.