Ethereum (ETH-USD) is a hot topic among crypto traders on Tuesday as the Securities and Exchange Commission (SEC) has further delayed a decision on ETH exchange-traded funds (ETFs).
A filing from the SEC reveals that it is still weighing out the rulings on ETH funds following the approval of similar Bitcoin (BTC-USD) ETFs. Investors will also note that this is the second delay for such a decision. The regulator already pushed back its decision once in January.
Here’s a portion of what the SEC says about the ETH ETF delay in a filing:
“Pursuant to Section 19(b)(2)(B) of the Act,13 the Commission is providing notice of the grounds for disapproval under consideration. The Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest.'”
ETH Crypto: ETH ETF Details
All of this talk about ETFs to track ETH crypto is the result of BlackRock’s (NYSE:BLK) and Fiedlity’s efforts to create such listings. While the SEC has delayed its decision a second time, it’s only able to do so three times total before it has to come to a conclusion on ETH ETFs.
ETH is up 7.1% over the prior 24-hour period as of Tuesday morning.
Investors can check out even more of the most recent stock market stories at the following links!
We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s happening with Phunware (NASDAQ:PHUN), Tesla (NASDAQ:TSLA) and GitLab (NASDAQ:GTLB) stock today. You can catch up on all of these matters at the following links!
More Stock Market News for Tuesday
- PHUN Stock Alert: Phunware Is Getting a ‘Super’ Tuesday Boost
- TSLA Stock Alert: Tesla Plunges on Major China Slowdown
- Why Is GitLab (GTLB) Stock Down 22% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
