The timeline for the SEC’s decision on VanEck‘s proposed Ether ETF has been extended to May 23. This comes after the commission postponed deadlines for similar applications and may face denial for others due in May 2024.
The SEC’s classification of Ether as a security is being investigated, creating uncertainty for ETF approvals.
The commission approved investment vehicles tied to Ether futures in October 2023, indicating a potential classification as a commodity.
Public comment is now allowed due to the delays in VanEck’s application. However, senators have urged the SEC to reject Ether ETFs, citing potential risks for retail investors.
