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The US Securities and Exchange Commission (SEC) announced it would delay the deadlines for decisions on VanEck's and Ark 21Shares' spot Ethereum ETF applications to December 25 and 26, 2023, respectively. In a filing, the SEC noted that it needs a longer period of time to consider the proposed rule change.
In early September, the Cboe BZX exchange filed 19b-4 filings for VanEck's and Ark Invest/21Shares' spot Ethereum ETFs with the SEC, which started the race for launching the first spot Ethereum ETF in the US.
Although the decisions for spot Ethereum ETFs have been delayed, the SEC is hoping to accelerate the launch of Ethereum futures ETFs before the US government shutdown, according to Eric Balchunas, senior ETF analyst for Bloomberg. He said that the Ethereum futures ETFs have a 90% chance of launching in October. Valkyrie's Bitcoin futures ETF is expected to add exposure to Ethereum futures on October 4, while Volatility Shares' ETF is expected to launch on October 12, becoming the first ETF to solely offer exposure to Ethereum futures.
Related: VanEck and Ark Invest Kick Off Competition for First Spot Ethereum ETF in US
SEC Delays Decision on Ark 21Shares Spot Bitcoin ETF
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