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The Securities and Exchange Commission (SEC) has requested additional time to deliberate on the proposed listings of several Ethereum-based exchange-traded funds (ETFs). In a recent filing, the regulator announced that it would extend its review period until April 9.
This move comes as no surprise, given the intense scrutiny surrounding decentralized finance (DeFi) and cryptocurrencies in general. As institutions increasingly turn their attention to these emerging markets, regulatory bodies are being forced to adapt and evolve their approach to accommodate this growth.
In recent years, the crypto market has experienced unprecedented gains, with Ethereum, in particular, surging over 4,000% in the past year alone. This explosive growth has led many investors to seek out regulated investment vehicles that can provide exposure to these digital assets.
The proposed ETFs at the center of this SEC review are designed specifically to track the performance of Ethereum, which is a critical component of DeFi and other blockchain-based applications. As such, it’s essential for regulators to thoroughly vet these listings before giving their blessing.
It remains unclear what factors will influence the SEC’s final decision, but market experts suggest that the agency may be cautious due to concerns surrounding market volatility, regulatory uncertainty, and investor protection.
Source: cryptoslate.com
