As the U.S. Securities and Exchange Commission (SEC) delays approval of BlackRock's Ether Exchange Traded Fund (ETF) application, the approval of 11 Bitcoin Exchange Traded Funds (ETFs) may guarantee similar instruments for Ether。

Ether ETF battle continues

The US regulator's decision came a day before a January 25 deadline for more time to review proposed rule changes.。

In an official filing, SEC Assistant Secretary Sherry Haywood said: "The Commission believes that it is appropriate to designate a longer period for action on the proposed rule change so that the Commission has sufficient time to consider the proposed rule change.。Accordingly, March 10, 2024 is designated as the date for approval or disapproval, or commencement of proceedings to decide whether to disapprove the proposed rule change.。"

After Bitcoin, its Ethereum

NASDAQ Represents Assets Under Management Over 9.BlackRock, $1 trillion largest asset manager, files for approval to list iShares Ethereum Truston on December 11, 2023。The SEC's latest delayed decision is the first that the regulator has exercised during the 240-day window.。

In addition to BlackRock, other applicants for Ethereum spot ETFs are VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale and Hashdex。The deadline to make a decision on VanEck's application is May 23, ARK 21Shares is May 24, Hashdex is May 30, Grayscale is June 18 and Invesco is July 5.。

Earlier this month, the SEC ended a decade-long stalemate by approving 11 spot Bitcoin ETFs to list on U.S. stock exchanges.。All companies seeking approval for a spot Ether ETF have listed their Bitcoin ETF。Two weeks later, BlackRock's Bitcoin ETF was the clear winner of inflows, while closed-end fund Grayscale Bitcoin Trust saw outflows。