The SEC said it needed more time to act on the changes and would make a decision on whether to approve, disapprove, or initiate proceedings to determine disapproval by January 1, 2024.

You might like: Kaspa (KAS) with 50x Leverage on Binance

In a file dated November 15, the SEC stated, “The Commission finds it appropriate to set a longer period to act on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised here.”

The Nasdaq stock exchange applied to the SEC in September to list the Hashdex Ethereum ETF. Toroso Investments (a commodity pool operator registered with the Commodity Futures Trading Commission and a member of the National Futures Association) managed and controlled this fund.

In the 19b-4 form, Nasdaq stated, “Instead of holding 100% spot ether, which may become more sensitive to price manipulation in the spot market, the fund will hold a mixture of spot ether, ether futures contracts, and cash.”

The History of SEC with Ethereum ETFs

The SEC had previously approved an ETF similar to Ethereum but had not approved a spot ETF or a mixed ETF. Last month, it approved and launched nine futures-based products at the same time.

Recently, companies have been pushing for spot ether ETFs; including Grayscale’s proposal last month to convert its Ethereum trust to a spot ether ETF and BlackRock’s move to apply for a spot ether ETF last week.

Feel free to share your thoughts on the topic in the comments. Besides, don’t forget to follow us on Telegram, YouTube, and Twitter for more analysis and updates.

The post SEC Postponed Hashdex Ethereum ETF! appeared first on Coin Engineer.