The Securities and Exchange Commission Delays Decision on Grayscale Ethereum Futures ETF

The SEC has announced a delay in their decision on whether to approve the Grayscale Ethereum Futures Trust’s application for an Ethereum ETF.

The initial deadline was set for May 30, but it has been pushed back due to the agency needing more time to consider the proposal and the issues surrounding it.

This delay was expected by some, with Bloomberg ETF analyst James Seyffart commenting that Grayscale’s approach seems to be aimed at securing eventual approval for a spot Ethereum ETF from the SEC.

The SEC has previously delayed its decision multiple times, but has approved other ether futures ETFs from different providers. Meanwhile, the Ethereum community has joined forces with Solana to address ongoing security concerns raised by the SEC.

Despite these developments, the price of Ethereum has seen a significant decline since its peak in March.