Recently, the Securities and Exchange Commission (SEC) of the United States of America made an announcement that they will be extending the decision-making time for the Grayscale Ethereum Trust’s application for a spot exchange-traded fund (ETF). In the past, the SEC had planned to reach a decision by December 6, 2023; however, they have now decided to postpone this until January 25, 2024. With this step, the regulatory body is demonstrating that it is taking a careful and comprehensive approach to the fast developing world of bitcoin exchange-traded funds (ETFs).
A significant participant in the investing of digital currencies, Grayscale Investments, submitted a Form 19b-4 in October with the intention of converting its Grayscale Ethereum Trust into a spot exchange-traded fund (ETF). A significant amount of assets, totaling $5 billion, are managed by this trust, which has been active since March 2019 and has been conforming to SEC…
