The U.S. Securities and Exchange Commission has pushed back the timeline for a decision on BlackRock’s proposed spot ethereum exchange-traded fund until March, according to a filing.
According to Wednesday's filing, "the Commission believes that specifying a longer period of time for action would be appropriate with respect to the proposed rule change to allow sufficient time to consider the proposed rule change and the issues raised therein."
The SEC now faces a March 10 deadline to approve, reject or take additional proceedings against the proposed fund.
BlackRock filed for its spot ethereum ETF in November, calling it the iShares Ethereum Trust. Fidelity’s Ethereum ETF application has also been delayed, according to documents published last week.
Bloomberg Intelligence ETF analyst James Seyffart said delays in spot Ethereum ETF proposals are likely to continue. Seyffart said in a post on the