SEC Considers Crypto ETFs, House Lawmakers Push for Approval, Politics Delay BTC ETF, ETH's Potential, Congress Urges SEC Action
The SEC is considering applications for spot crypto ETFs from Franklin Templeton and Hashdex, while delaying decisions on VanEck's and ARK's ether ETFs. The SEC has a maximum of 240 days to approve or deny an ETF, with a decision date for these proposed funds expected in late May 2024. The Commission frequently delays decisions and may extend deadlines due to a potential federal government shutdown. In August, a federal appeals court ruled that the SEC must reevaluate its rejection of Grayscale Investments' bid to convert its Grayscale Bitcoin Trust into an ETF.