According to breaking information, the SEC postponed Grayscale's application to convert its Ethereum fund into an Ethereum Spot ETF.
The U.S. Securities and Exchange Commission (SEC) recently said it will need more than 45 days to consider a rule change that would allow Grayscale to convert its Ethereum trust into an Ethereum spot ETF.
Bloomberg analyst James Seyffart stated in his statement that the next important date for Ethereum spot ETFs is May 23.
The SEC, which approved Bitcoin Spot ETFs approximately two weeks ago, has not yet approved any ETH Spot ETFs, but ETH futures ETFs are currently traded on US exchanges. There are no other cryptocurrency ETFs on US exchanges.
Grayscale first filed with the SEC in October to convert shares of the Grayscale Ethereum Trust into a spot Ether ETF, adding its name to the list of companies awaiting a decision from the regulator.
*This is not investment advice.