New York, January 19, 2024 — The U.S. Securities and Exchange Commission (SEC) has announced an extension to the review period for the filing submitted by the Cboe BZX Exchange pertaining to Fidelity Ethereum Fund shares. The SEC‘s decision defers the final verdict on this matter until March 5, 2024. The extension is attributed to the agency’s need for additional time to conduct a thorough evaluation as mandated by Section 19(b)(2) of the Securities Exchange Act of 1934.
Originally, the SEC was expected to make a decision by January 20; however, the regulatory body opted for an extension, citing the necessity for a more comprehensive assessment. The intricate nature of the proposal demands a meticulous review, leading to the postponement of the initial deadline.
This decision from the SEC comes at a time when the cryptocurrency market is navigating a particularly challenging phase. The regulatory body remains in the process of deliberation, and as of the original deadline, no formal approval or disapproval has been issued concerning the Cboe BZX Exchange’s filing for Fidelity Ethereum Fund shares. Market participants eagerly await the SEC’s final determination as it holds implications for the future of cryptocurrency investments and regulatory developments.
