Companies • September 27, 2023, 3:54PM EDT
Published 1 minute earlier on
UPDATED: September 27, 2023, 4:10PM EDT

SEC delays decisions on proposed ethereum ETFs from Ark, VanEck

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Quick Take

  • The SEC on Wednesday delayed decisions due on the proposed ARK 21Shares Ethereum ETF and VanEck Ethereum ETF.

The Securities and Exchange Commission said Wednesday that it would delay a decision on the proposed ARK 21Shares Ethereum ETF.

"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," it wrote in a filing.

A new decision deadline was set for Dec. 26.

Cathie Wood's Ark Invest and 21shares applied with the SEC for the proposed fund not even a month ago. The move came amid a flurry of excitement as the crypto industry battles it out with the regulator for the first spot crypto fund. 

Additional delays

But ahead of a possible government shutdown, the regulator has been delaying decisions. On Wednesday, it also moved to delay the proposed VanEck Ethereum ETF until at least Dec. 25.

On Tuesday, the SEC delayed a decision on the proposed ARK 21Shares Bitcoin ETF into next year, with a new deadline of Jan. 10.

(Updates with additional details throughout.)


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