SEC Postpones its Decisions on Ethereum ETF Applications

The Securities and Exchange Commission announced on Wednesday that it will be postponing its decision on whether to approve the proposed ARK 21Shares Ethereum ETF.

In a filing, the SEC stated that it needs more time to thoroughly evaluate the proposed rule change and the concerns raised surrounding it. The new deadline for a decision has been set for December 26.

This comes as Cathie Wood’s Ark Invest and 21shares submitted their proposal for the crypto fund less than a month ago, amidst increasing competition for the first approved crypto fund.

However, the SEC has been delaying decisions due to the possibility of a government shutdown.

Additionally, on Wednesday, the SEC also announced a delay for the proposed VanEck Ethereum ETF until at least December 25. This follows the SEC’s postponement of the ARK 21Shares Bitcoin ETF decision into next year, with a new deadline of January 10.