SEC Delays Decisions on Franklin Templeton and Grayscale Spot Ethereum ETFs

The United States Securities and Exchange Commission has decided to postpone any decisions regarding two proposed exchange-traded funds (ETFs) focused on Ethereum.

These ETFs were proposed by investment firms Grayscale and Franklin Templeton. The SEC has pushed back its decision date to June 11, 2024, during which time it will consider whether to approve, reject, or initiate further proceedings.

The agency stated that it needs more time to thoroughly assess the proposals and related issues. In February, Franklin Templeton submitted their S-1 registration statement for the Franklin Ethereum ETF, which would track the price of ether.

Grayscale’s similar proposal, the Grayscale Ethereum Trust, was also delayed. Grayscale had previously sought to convert its Grayscale Bitcoin Trust to a spot bitcoin ETF, which was successfully approved by the SEC in January after a court victory.