The U.S. Securities and Exchange Commission (SEC) has postponed the decision on two ETFs related to Ethereum, specifically the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF, until May 2024.
The Hashdex Nasdaq Ethereum ETF combines investments directly in ETH with investments in Ethereum futures. Grayscale's application is believed to have strategic significance: if approved, the company could transform its private investment fund, Ethereum Trust, into an ETF for Ethereum on the spot market.
SEC has announced that it will conduct additional discussions and gather comments from the public regarding the approval of these ETF listings.
As Bloomberg analyst James Seyffart pointed out, the delay in the decision regarding Ethereum ETFs was expected, especially considering that the regulator is currently focused on reviewing applications for Bitcoin ETFs. It is anticipated that such funds will enter the market in early next year.
Seyffart noted that SEC does not classify Ethereum as a security, making the approval of Ethereum ETFs on the spot market quite likely in the near future.