Ethereum ETF approval has been pulling the leads as many big organization seeks its approval.
Ethereum ETF has lots of benefits and can be a fundamental drive to the success of Ethereum project.
Organizations like the Grayscale, Fidelity and black rock has submitted series of applications to SEC concerning the Eth ETF approval.
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Grayscale submitted it’s application to the SEC in October 2023 and has being decided upon on December 5 2023,That of fidelity and black rock has been given a deadline on march.
The SEC is particularly in view of the vulnerability and manipulation attached to the Ethereum algorithm Ethereum-ETF(PoS) and volume.
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” Sheds more light on why the approval is delayed.
During the announcement of the fidelity Ethereum ETF delay by Bloomberg ETF analyst,James Seyffart,stated the date of the approval which he expects.
Fidelity #ethereum ETF delayed just now. Completely expected. Dates that really matter are late May in my view,” James stated.
