In separate announcements made on September 27th, the SEC stated that they will set a longer timeframe for approving or disapproving the proposed rule changes that would allow the listing of ETH spot ETFs from VanEck and ARK 21Shares on the Cboe BZX Exchange. The Commission noted that they have not received any public comments on both proposals and will extend the decision deadlines to December 25th and December 26th, respectively.
The SEC explained, “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”
This delay comes on the same day that the Nasdaq Stock Market submitted a rule change proposal to the SEC for listing mixed ETFs for Ether – a combination of physically held Ether and futures contracts. Proposed rule changes with the New York Stock Exchange Arca for Grayscale Ethereum Futures Trust and Hashdex Bitcoin Futures ETF, as well as with the Cboe BZX Exchange for the Franklin Bitcoin ETF, were also submitted on September 27th.
On September 26th, the SEC announced that they would designate a longer timeframe to make a decision on Bitcoin spot ETFs from ARK 21Shares and GlobalX. The Commission filed notices ahead of the next deadlines for both investment vehicles, pushing the final decision on ARK 21Shares’ ETF to January.