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SEC Delays Approval of Ethereum ETF Options as ETH Struggles Under $3,000
The US Securities and Exchange Commission (SEC) has delayed the approval of Ethereum exchange-traded fund (ETF) options until April 2025. This delay comes after a filing made by Nasdaq in July last year seeking regulatory approval to list options contracts for the iShares Ethereum Trust (ETHA).
This delay is particularly concerning, given that spot ETH ETFs have already attracted nearly $10 billion in net assets, equivalent to 3% of Ethereum’s market capitalization. These products are critical for boosting institutional adoption around Ethereum.
The delay is likely attributed to the new SEC Chair, Paul Atkins, who will be taking over from Gary Gensler. As a result, it seems that the pending approvals for submitted filings with the SEC, including XRP, Dogecoin, Solana, and Litecoin ETFs, may be done under Atkins’ leadership.
Analysts predict that once these ETFs are approved, they would significantly alter their operations. One of the expected changes is the introduction of leverage options. However, it’s likely that the new SEC Chair will put a stop to such inconsistencies.
The Ethereum market has been experiencing bearish pressure lately. The price drop below $3,000 led to a significant decline in wallet profitability. According to Santiment, ETH wallets’ profitability percentage has dropped to its lowest level in more than four months.
Source: https://zycrypto.com/sec-delays-approval-of-ethereum-etf-options-as-eth-struggles-under-3000/
