The SEC has decided to take more time to think about a proposal from Grayscale for a spot Ethereum ETF. The proposal is about permitting people to buy and sell shares of the Grayscale Ethereum trust on the NYSE Arca market.

NYSE Arca first asked for this change on October 10, 2023. Everyone had a chance to share their thoughts about it until October 27, 2023.

SEC Delays Grayscale spot Ethereum ETF Decision

In a recent filing, the SEC has announced its decision to delay Grayscale spot Ethereum ETF.

By law, the SEC has 45 days to decide on these kinds of proposals, but they can take up to 90 days if they need more time.

The 45th day for this proposal was supposed to be December 11, 2023, but the SEC says it wants to take longer to really understand everything.

At the time of publication, Ethereum’s current price is $2,296.

Read more: How To Buy Ethereum (ETH) With a Credit Card: A Step-by-Step Guide

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Author: Ciaran Lyons

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