U.S SEC Delays Ruling on Approval of Ethereum ETF

The Hashdex Nasdaq Ethereum exchange-traded fund (ETF) is facing a delay in its approval decision by the U.S. Securities and Exchange Commission (SEC). The SEC has extended the deadline for its decision to May 30, 2024. This ETF, managed by Toroso Investments, aims to hold ether spot and futures contracts if authorized. The SEC has also postponed its judgment on the ARK 21Shares Ethereum ETF, which tracks the performance of ether, until May 24, 2024. Both ETFs have sought public feedback, and the likelihood of their approval has decreased recently. Bloomberg ETF analyst Eric Balchunas revised his prediction for the approval of a spot Ethereum ETF by May from 70% to 30%. Notable organizations like Fidelity and BlackRock have also filed for spot Ethereum ETFs.