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SEC Delays Fidelity Ethereum Spot ETF, Analysts Bullish on Approval in May

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SEC Delays Fidelity Ethereum Spot ETF, Analysts Bullish on Approval in May

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SEC Delays Ethereum Spot ETF

Bloomberg ETF analyst James Seyffart retweeted news on January 18th about the SEC's delay of Fidelity's Ethereum spot ETF.

According to the SEC announcement, the deliberation period has been extended by an additional 45 days to allow sufficient time to consider proposed changes to the related rules.

Delay of Ethereum ETF as Expected

Both James Seyffart and Will Clemente, co-founder of research firm Reflexivity Research, expressed optimism that this delay is completely expected. They believe that the key period for the approval of VanEck's Ethereum spot ETF is May 23rd, which is the end of May. It is expected that the SEC will follow the same approach as with Bitcoin ETF and approve multiple Ethereum spot ETFs at once.

New Developments in Bitcoin Leveraged ETFs

While the SEC continues to delay Ethereum ETFs, a total of 16 Bitcoin leveraged ETFs have been applied for by ETF issuers:

  • REX Shares: Applied for 6 Bitcoin leveraged ETFs on January 3rd.

  • ProShares: Applied for 5 Bitcoin leveraged ETFs on January 16th.

  • Direxion: Applied for 5 Bitcoin leveraged ETFs on January 18th.

Bitcoin spot ETF trading volume approaches billions of dollars, ProShares submits another five Bitcoin leveraged ETFs

Previously, controversial analyst Markus Thielen from Matrixport pointed out that after the listing of Bitcoin spot ETFs, options and derivative products are likely to follow, which may further impact price volatility.

Matrixport analyst: Short-term bearish on BTC; ETH will soon rise to $3,000