Altcoin investors eagerly awaiting the Ether rise could trigger significant activity for assets other than BTC. The confirmation that could prompt a BTCD decline has not been given so far, and the SEC does not seem likely to approve it anytime soon. A new decision was announced today. So what does this mean?
SEC and Ethereum ETF
A few minutes ago, as expected, the SEC decided to postpone the decision on the Ethereum ETF proposed by Hashdex. The agency stated that it needs more time to make a decision on approval or rejection and will announce its decision at a later date. However, there is an end to postponements, and it is approaching.
The final deadline for the Ethereum ETF is May 23, and that is precisely the day the SEC will have to say “Yes” or “No” to the Ark Invest application. On the same decision day, the SEC will likely also announce its decisions regarding applications made by BlackRock, Fidelity, and others, as it had done for BTC in January 2024 in the interest of equal opportunity.
For now, it is normal for Ethereum investors not to be too excited by postponement decisions that have little effect on the price. In the coming days (within 12 days), postponement decisions for applications from VanEck, ARK/21Shares, and Grayscale could also be announced.
