SEC delays verdict on two Ethereum ETFs, potentially delaying final approval.
Ethereum ETFs are once again on hold
Ethereum ETFs face persistent obstacles. After the SEC's initial rejection, it's now the timetable for approval that's in question. This follows a recent SEC announcement.
Yesterday, two companies applying for Ethereum exchange-traded funds, Invesco and Galaxy Digital, were awaiting a decision from the SEC. As usual, the US regulator gave no clear answer and simply extended the deadline.
This action, although foreseeable, could have repercussions on the approval timetable. Experts differ on this point: while the May 23 deadline was previously envisaged. It is now possible that the SEC will grant an additional 240 days from today. Thus, the response could be expected at the end of June 2024.
Despite this setback, Ethereum (ETH) is continuing the advance it began yesterday, with a current rise of 2%. This trend suggests a potential annual peak ahead!
At the same time, Bitcoin maintains its appeal to institutions
Conversely, Bitcoin did not benefit from a price increase following the approval of its ETFs last January, contradicting predictions.
Nevertheless, Bitcoin ETFs have enjoyed notable success. According to Eric Balchunas, the ETF offered by BlackRock has attracted more capital than 99% of other similar products, across all sectors. Fidelity, meanwhile, ranks eighth among the best US funds.
Bitcoin is still waiting to see what impact this will have on its price, but perhaps signs will finally appear in the coming days!
