US SEC further delays decision on BlackRock's spot ethereum ETF

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March 4, 2024 6:56 PM EST

FILE PHOTO: A specialist trader works at the post where BlackRock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid/File Photo

(Reuters) - U.S. Securities and Exchange Commission (SEC) further delayed its decision on an application by asset manager BlackRock for its spot ethereum exchange-traded fund, according to a regulatory filing on Monday.

BlackRock in November last year filed its application for its iShares Ethereum Trust, which will be listed on the Nasdaq if approved.

Ether is the second-biggest cryptocurrency by market capitalization.

The SEC in January delayed its decision on BlackRock's application after it gave the green light to several bitcoin ETFs.

A spot crypto ETF tracks the market price of the underlying digital asset, giving investors exposure to the token without having to buy the currency.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)


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