- SEC extends review of BlackRock’s spot Ethereum ETF options until April 2025.
- Grayscale’s Solana ETF proposal progresses with an open public comment period.
- Cboe files 19b-4 for spot XRP ETFs, SEC decision within 240 days.
The U.S. Securities and Exchange Commission (SEC) has decided to extend its review of several key cryptocurrency exchange-traded fund (ETF) proposals. In line with this, the SEC has requested more time to evaluate BlackRock’s spot Ethereum ETF options, delaying its decision on a potential approval.
As part of its decision, the SEC has set a new deadline for April 9, 2025, to decide on whether to approve options trading for BlackRock’s iShares Ethereum Trust. The agency said, “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”
SEC Reviews ETF Proposals and Sets Deadline
On the same day, the SEC also invited public comments on a proposal to list and trade options for Fidelity’s spot Ethereum ETF. This follows a request from Nasdaq ISE, made in July, seeking permission to list options contracts for BlackRock’s Ethereum ETF (ETHA).
Related: XRP ETFs Edge Closer to SEC Approval Following Multiple 19b-4 Filings
Bloomberg’s ETF analyst Eric Balchunas said there’s no need to read too much into the SEC’s decision. He believed the proposals would eventually receive approval, citing a delay caused by waiting for Paul Atkins’s confirmation before moving forward.
Market Reactions and Analyst Views
SEC Moves Forward with Grayscale Solana ETF Proposal
On the flip side, the SEC has moved forward with Grayscale’s proposal for a Solana-based ETF. The agency recently filed Form 19B-4 to open up a public comment period, signaling its openness to exploring new crypto-based investment products. Industry feedback during the comment period could play a critical role in shaping the final decision.
CBOE Submits19b-4 Rule Change Proposal
In other news, the Chicago Board Options Exchange (Cboe) filed a 19b-4 with the SEC on behalf of four companies—Bitwise, Wisdomtree, 21shares, and Canary Funds—to secure approval to launch spot XRP exchange-traded funds (ETFs). A 19b-4 filing represented a formal request to change the SEC’s rules, which remained necessary for listing new financial products.
Related: BlackRock CEO “Surprised” by Bitcoin ETF’s Record-Breaking Demand
The SEC now has 240 days to decide whether to approve, deny, or delay its decision on these ETFs. However, the filing itself doesn’t guarantee approval or any immediate action.
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