SEC extends deadline for VanEck’s spot Ether ETF application

The application for a spot Ether exchange-traded fund (ETF) from asset manager VanEck has been delayed by the United States Securities and Exchange Commission (SEC). In a notice on March 20, the SEC announced that it had extended the time period for the approval or disapproval of the VanEck Ethereum ETF on the Cboe BZX Exchange. The SEC now has until May 23 to make a final decision on the investment vehicle. The commission stated that it needed more time to consider the proposed rule change. This announcement follows the SEC’s previous deadline extensions for spot Ether ETFs from Hashdex and ARK 21Shares. Bloomberg ETF analyst James Seyffart has speculated that the current round of Ether ETF applications with May 2024 deadlines will likely be denied.