The U.S. Securities and Alternate Price (SEC) has delayed announcing its decision on BlackRock’s application for a remark Ethereum exchange-traded fund (ETF).

In a submitting on Jan. 24, SEC Assistant Secretary Sherry Haywood acknowledged the Price chanced on it appropriate to designate a long ready interval to imagine the proposed rule trade.

BlackRock applied to trade its iShares Ethereum Belief below the Nasdaq Rule 5711(d) as a commodity-essentially essentially based belief. The proposed rule trade became once submitted to the Federal Register on Dec. 11, and the SEC is yet to rep any feedback on the proposal.

To many business watchers, the extend is occasionally gross, given the SEC’s historical past of pushing slash-off dates for identical applications previously over the 240-day-interval. The securities regulator will likely assemble its closing decision on remark Ethereum ETF applications on the final lower-off date in Could per chance presumably.

The approval of 11 remark Bitcoin ETFs earlier this month trigger off a wave of optimism around a doubtless Ethereum ETF, and a rally all over the underlying digital asset, which has won a audacious 20% against Bitcoin – its strongest market performance since the stay of 2022.

On the other hand, statements from SEC Chairman Gary Gensler would counsel that those that’re retaining out hope for a remark Ethereum ETF could presumably well well also merely level-headed taper down expectations.

“As I acknowledged two weeks ago, that which we did in regards to bitcoin exchange traded products is cabined to this one commodity non-security and shouldn’t be learn to be the rest assorted than that,” acknowledged Gensler in a media briefing on Wednesday, reported by The Block.