Fidelity Ethereum ETF Decision By SEC Delayed Until March: Report
Portfolio Pulse from Mehab Qureshi
The SEC has delayed its decision on Fidelity's proposed spot Ethereum ETF until March 5. The extension allows for more comprehensive consideration of the proposal. Fidelity submitted the proposal in November, referencing a court ruling questioning the SEC's rejection of spot cryptocurrency ETFs. The delay follows the SEC's recent approval of 11 spot Bitcoin ETFs, raising expectations for a spot Ethereum ETF. Analyst James Seyffart anticipates key dates in late May for the ETF's progress.
January 19, 2024 | 3:37 am
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The SEC's decision delay on the spot Ethereum ETF may lead to temporary uncertainty in Ethereum's price, as investors were anticipating a decision.
While the delay in the SEC's decision may cause some short-term uncertainty, the overall impact on Ethereum's price is likely to be neutral as the market adjusts to the new timeline. The anticipation of a decision may have been priced in, and the delay does not necessarily indicate a negative outcome.
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