The cryptocurrency markets have been relatively calm from Monday to Friday, but there are some significant developments on the SEC front. We had announced delays related to the ETH ETF applications. Now, there are new developments for two different ETF applications.
Crypto ETF News
The SEC has just postponed the decision on the Spot Ethereum ETF application made by VanEck. A few hours ago, we discussed Grayscale’s concerns about the centralization risk and market speculation that the transition to PoS for the future ETH ETF could bring. Now, the decision for VanEck has also been postponed. The SEC’s choice to delay rather than deny and set additional review periods is relatively positive.
What’s more positive is the updates made by potential ETF issuers in their applications while continuing their discussions with the SEC. The file update received during the talks is a hopeful development, considering that the final approval date for the joint ETF applications by Ark and 21Shares is thought to be January 10.
This month, the SEC conducted meetings with many ETF applicants, including Fidelity and BlackRock. Strengthened communication confirms the breaking of the negative approach, while imposing the idea that approval is now just a matter of time to investors. The BTC price rose to $41,800 following the news.
