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SEC Delays ETH ETF Ruling for BlackRock, Others

 
Ritu Lavania
Written By 
Ritu Lavania
September 25, 2024
Ether Spot ETF saw Net Outflows of 20-1 M on September 12, 2024 ET

The US Securities and Exchange Commission (SEC) has delayed its decision to allow options trading for BlackRock and Bitwise’s spot Ethereum (ETH) exchange-traded funds (ETFs) saying it needed more time to consider the proposal.

According to the filing, the new deadlines for BlackRock and Bitwise have been pushed to Nov. 10 and Nov. 11, respectively. The initial 45-day review period that was to end on September 26 for BlackRock has now been extended until mid November to give SEC more time to consider the proposal. Nasdaq had first filed for the rule change for the iShares Ethereum Trust ETF on July 22.

SEC delays decision on option trading for Blackrock, Bitwise

Just one day after BlackRock’s proposed rule change change, Bitwise’s ETHW was also filed for rule change, hence, its decision date has been delayed as well.

The delay comes after BlackRock’s iShares Bitcoin Trust (IBIT) was approved for options trading from the SEC on September 20– a move that was hailed as a huge win for Bitcoin ETFs.

As of September 24, the daily BTC ETF inflow is $37.06M and total net onflow is $17.74 Billion. Meanwhile Ethereum ETF saw a net outflow of $683.42 Million, even if it has a daily inflow of $3.26 Million. Thus, even with larger crypto adoption these days, ETH ETF has not managed to generate as much interest as Bitcoin ETFs have. After US SEC allows trading options on the BlackRock ETH ETF, Bitwise ETH ETF, things might take a slightly different turn for Ethereum ETF market.

Also Read: Spot Bitcoin ETFs Record $4.5M in Net Inflow on September 23 ET

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.