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US SEC further delays decision on BlackRock's spot ethereum ETF

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LA Post: US SEC further delays decision on BlackRock's spot ethereum ETF
Reuters
Reuters
March 04, 2024

(Reuters) - U.S. Securities and Exchange Commission (SEC) further delayed its decision on an application by asset manager BlackRock for its spot ethereum exchange-traded fund, according to a regulatory filing on Monday.

BlackRock in November last year filed its application for its iShares Ethereum Trust, which will be listed on the Nasdaq if approved.

Ether is the second-biggest cryptocurrency by market capitalization.

The SEC in January delayed its decision on BlackRock's application after it gave the green light to several bitcoin ETFs.

A spot crypto ETF tracks the market price of the underlying digital asset, giving investors exposure to the token without having to buy the currency.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

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