SEC pushes deadlines for ARK 21Shares, VanEck spot Ether ETF applications

The United States Securities and Exchange Commission (SEC) has delayed reaching a determination connected whether to o.k. oregon disapprove of spot Ether (ETH) exchange-traded money applications from ARK 21Shares and VanEck.

In abstracted notices filed Sept. 27, the SEC said it would designate a longer play connected whether to o.k. oregon disapprove of a projected regularisation alteration that would let listings of spot ETH ETFs from VanEck and ARK 21Shares connected the Cboe BZX Exchange. The committee said it had received nary nationalist comments connected either connection and would propulsion the deadlines for different hold oregon determination to Dec. 25 and Dec. 26, respectively.

“The Commission finds it due to designate a longer play wrong which to instrumentality enactment connected the projected regularisation alteration truthful that it has capable clip to see the projected regularisation alteration and the issues raised therein,” said the SEC.

The hold came the aforesaid time the Nasdaq Stock Market filed a projected regularisation alteration with the SEC for listing its mixed ETH ETF — a operation of spot Ether holdings and futures contracts. Proposed regularisation changes with the New York Stock Exchange Arca for the Grayscale Ethereum Futures Trust and Hashdex Bitcoin Futures ETF, and the Cboe BZX Exchange for the Franklin Bitcoin ETF were besides filed connected Sept. 27.

The SEC announced connected Sept. 26 it would designate a longer period to scope a determination connected spot Bitcoin (BTC) ETF applications from ARK 21Shares and GlobalX. The committee filed the announcement weeks up of the adjacent deadlines for some concern vehicles, pushing a last determination connected ARK 21Shares’ ETF to January.

And here's @vaneck_us' hold arsenic expected https://t.co/uloOidbfd1 pic.twitter.com/i4Hhv5yhiR

— James Seyffart (@JSeyff) September 27, 2023

Related: US lawmakers telephone connected SEC seat to o.k. spot Bitcoin ETFs ‘immediately’

In August, ARK Investment Management laminitis and CEO Cathie Wood speculated that should the SEC determination guardant with spot ETF approvals, it could let aggregate listings simultaneously to debar giving immoderate azygous institution an vantage implicit different successful the market. Her remarks came anterior to Grayscale Investments winning a tribunal battle with the SEC implicit its spot Bitcoin ETF application, which volition apt beryllium reviewed.

To date, the SEC has ne'er approved a spot crypto ETF successful the U.S. but has allowed the listing of crypto-linked futures ETFs arsenic good arsenic a leveraged Bitcoin futures ETF. The adjacent deadlines for spot crypto ETF applications from firms including BlackRock, WisdomTree, Invesco Galaxy, Valkyrie, Bitwise and Fidelity are scheduled for October.

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