SEC Delays Decision on Fidelity’s Spot Ethereum ETF Application
The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision on Fidelity’s application to launch spot Ethereum (ETH) ETFs. According to information on the regulator’s website, the decision is now expected on March 5, 2024. The SEC cited the need for additional time to consider the proposed rule change and the issues raised therein as the reason for the delay.
March 5, 2024 Set as New Decision Date for Fidelity’s Ethereum ETF
The decision on Fidelity’s application to launch spot Ethereum ETFs has been postponed to March 5, 2024. The SEC has designated this extended period to thoroughly review the proposed rule change and the related issues. The new decision date provides the SEC with sufficient time to carefully consider the application and make an informed decision.
Bloomberg Analyst Expects Further Delay on Fidelity’s Ethereum ETF
Industry analyst James Seyffart from Bloomberg predicts that the SEC will further delay its decision on Fidelity’s Ethereum ETF application in March and set a new decision date in May. While this delay was expected, it indicates that the SEC is taking its time to thoroughly evaluate the application and address any concerns or issues raised. The decision on Fidelity’s Ethereum ETF is eagerly awaited by market participants and investors.
Ethereum Price Falls 2.8% as SEC Delays Fidelity’s ETF Decision
The announcement of the SEC’s delay on Fidelity’s Ethereum ETF application has led to a slight drop in the price of Ethereum. At the time of writing, the price of Ethereum fell 2.8% to $2,459. The market reaction suggests that investors were anticipating a positive decision from the SEC. However, it is important to note that cryptocurrency trading volumes increased significantly, indicating continued interest and activity in the market.
Fidelity’s Ethereum ETF Delay Sparks Increase in Cryptocurrency Trading Volumes
The delay in the SEC’s decision on Fidelity’s Ethereum ETF application has led to a notable increase in cryptocurrency trading volumes. In the past 24 hours, trading volumes have surged by more than 14% to $11.9 billion. This suggests that market participants are closely following the developments regarding Fidelity’s application and are actively trading Ethereum in response to the news. The increased trading activity demonstrates the significance of the SEC’s decision on the Ethereum ETF and its potential impact on the market.
Analyst comment
Positive: Increased cryptocurrency trading volumes indicate continued interest and activity in the market, suggesting investor confidence.
Neutral: The SEC’s decision on Fidelity’s Ethereum ETF application has been postponed to allow for further review and consideration, indicating that the SEC is taking its time to evaluate the application thoroughly.
Negative: The price of Ethereum fell 2.8% in response to the SEC’s delay on Fidelity’s ETF decision, suggesting that investors were anticipating a positive outcome.
