SEC holds up Fidelity’s Spot Ethereum ETF
The Securities and Exchange Commission has postponed deciding on Cboe Exchange’s request to list options on the spot Ethereum exchange-traded fund of Fidelity Investments.
The SEC announced that it was moving forward with its decision on Ethereum. U.S. Federal law stipulates that the agency may take an extra 60 days to make a final decision if one is not made within the first 180-day review period.
Cboe will have to wait longer to find out if it has been approved to list options contracts on Fidelity’s Ethereum Fund, which is denoted by the ticker FETH.
The SEC stated it prolonged the review period to give “enough time to consider the proposed rule change.”
Cboe submitted a regulatory approval request to list Ether ETF options on August 19, 2024.
The timeline for this proposal shows that the 180-day deadline would have been March 3 and the full 240-day review period would have begun on May 2, 2025. This implies that the SEC’s final decision is due May 2, 2025.
Market sentiment is generally positive, considering the SEC’s recent change to a more encouraging posture.
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