SEC Seeks Comments On Blackrock’s Ethereum ETF Ahead Of May Deadline  

The US Securities and Exchange Commission (SEC) is seeking comments on an amended filing for a spot Ethereum ETF (exchange-traded fund) by asset manager BlackRock.

BlackRock filed for the iShares Ethereum Trust in November last year. The SEC delayed its decision on the application in March, prompting BlackRock to file an amendment last week.

The regulator is now seeking comments on the amended filing that introduces changes in the creation and redemption of shares.

Interested persons can submit comments on the SEC’s website within 21 days.

Chances of Approval Of BlackRock iShares Ethereum ETF Remain Low

The SEC is yet to approve any spot Ethereum ETFs. Despite the recent activity by BlackRock and the SEC, Bloomberg ETF analyst James Seyffart puts the odds for approval in May at just 25%.

Standard Chartered Bank, which was previously optimistic that spot Ethereum ETFs will launch in May, has also changed its stance. The bank said that the lack of active dialogue between the SEC and the applicants made an approval on May 23 unlikely.

On Tuesday, the SEC delayed its decision on spot ETH ETF filings by Grayscale and Franklin Templeton to June 23 and June 11, respectively. The delayed decision comes as Grayscale filed to convert its Ethereum Trust into an Ethereum ETF.

Two US Senators have previously cautioned the SEC against approving more crypto ETFs because of their ”enormous risks.”

Also Read:

  • Hedera Price Prediction: HBAR Skyrockets 90% After BlackRock’s MMF Is Tokenized On Hedera As This World-First AR/VR Presale Charges Towards $6M
  • Robert F. Kennedy Jr. Advocates Blockchain for U.S. Budget Transparency
  • Security Breach Hits El Salvador’s Official Bitcoin Wallet: Chivo Under Threat

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