Cryptocurrency market watchers have shifted their focus to Ethereum ETF applications following the approval of spot Bitcoin ETFs. The United States Securities and Exchange Commission recently announced a decision to delay the Ethereum ETF application submitted by investment firm Franklin Templeton.
SEC Obstacle in Ethereum ETF Process
Following the approval of Bitcoin ETF applications, many investment firms have submitted their Ethereum ETF proposals to the SEC. The regulatory body has just announced a delay in the decision on the ETF application by Franklin Templeton. Experts and analysts continue to comment on the process, which has recently had a positive impact on Ethereum prices.
According to analyst comments, the SEC is expected to approve Ethereum-related applications following the Bitcoin ETF process, but the regulatory authority has many legal rights to delay or extend the process, which it continues to exercise. Following this development, Ethereum continues to trade at $3,874, marking a 1.4% increase in the last 24 hours as of the time of writing.
