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Black Rock and Fidelity Ethereum ETF Plans are Rebuffed by the SEC

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Black Rock

While commentators continue to suggest that May is the month to watch, the SEC has once again postponed deciding on the spot Ethereum ETF applications from Black Rock and Fidelity.

The decision by BlackRock and Fidelity to accept or reject their spot Ether ETH tickers down $3,722 exchange-traded funds (ETFs) has been postponed by the United States Securities and Exchange Commission (SEC).

The SEC indicated in two different filings on March 4th that it would postpone deciding on the applications filed by Fidelity for its Ethereum Fund and BlackRock for its iShares Ethereum Trust.

The SEC first postponed deciding on the Ether ETF applications from BlackRock and Fidelity in January, just after approving the launch of a list of spot Bitcoin (BTC) ETFs. Before rendering a final decision, the SEC may postpone it for a maximum of three times.

The market experts and ETF analysts had long speculated that the SEC will decide whether or not to approve the ETFs until after the first final deadline in May, so their delay has not been surprising.

The “only date that matters” in terms of Ethereum ETFs, according to Bloomberg ETF expert James Seyffart, was stated in an earlier article on February 7 to X. This date is May 23, which is also the last day to apply for VanEck’s spot ETH ETF.

Ethereum ETFs

In the meantime, the market’s general excitement over possible approval has continued to drive the price of Ether, which has gained 56.7% over the past month. The SEC’s decision to postpone it today had no bearing on it.

According to CoinGecko data, the price of ETH at the time of publication was $3,754, up 13% over the previous week.

 CoinGecko data

Though BlackRock’s iShares Bitcoin ETF now has an astounding $10 billion in assets under management, not everyone is as sure that a spot Ether ETF will be as important as the spot Bitcoin ETFs.

Though he and his colleague Seyffart would soon have official chances on an ETH ETF acceptance, Bloomberg ETF analyst Eric Blachunas called the funds that still need approval “small potatoes” in comparison to the Bitcoin funds.

ETH ETF

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