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According to breaking information, the SEC postponed Fidelity's spot Ethereum ETF application.
According to a published statement, the SEC has set March 5, 2024 as the date on which it will re-defer, approve or disapprove the application submitted by Cboe BZX Exchange.
The SEC said it needed more time to evaluate the issues raised by the product, which would be the first of its kind in the U.S. market.
Under normal circumstances, the SEC's deadline for this application was January 20, 2024. With the postponement decision, the SEC extended the decision-making process for the application for another 45 days.
A similar process occurred before the approval of Bitcoin spot ETFs.