The SEC representative explained that the qualification panel requires additional time to thoroughly review Fidelity’s application, along with other similar applications received previously, to ensure compliance with the Securities Exchange Act of 1934.
Fidelity #ethereum ETF delayed just now. It was expected. The crucial dates to watch are in late May. https://t.co/8mvhcPRaS7
— James Seyffart (@JSeyff)January 18, 2024
Bloomberg ETF columnist James Seyffart anticipated the SEC’s decision and believes that Fidelity’s approval process may conclude in May. Some crypto market analysts speculate that the SEC could potentially approve multiple pending Ethereum spot ETFs simultaneously, similar to its approach with Bitcoin ETFs.
Earlier, financial experts at the investment bank TD Cowen shared information suggesting that the SEC might not have sufficient time to review applications for the launch of Ethereum ETFs in the first half of 2024.