SEC delays decisions on proposed ethereum ETFs from Ark, VanEck

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 ETH + 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


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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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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.


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