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US SEC further delays decision on BlackRock's spot ethereum ETF

Published 03/04/2024, 06:56 PM
Updated 03/04/2024, 07:01 PM
© Reuters. FILE PHOTO: A specialist trader works at the post where BlackRock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022.  REUTERS/Brendan McDermid/File Photo

(Reuters) - U.S. Securities and Exchange Commission (SEC) further delayed its decision on an application by asset manager BlackRock (NYSE:BLK) for its spot ethereum exchange-traded fund, according to a regulatory filing on Monday.

BlackRock in November last year filed its application for its iShares Ethereum Trust, which will be listed on the Nasdaq if approved.

Ether is the second-biggest cryptocurrency by market capitalization.

The SEC in January delayed its decision on BlackRock's application after it gave the green light to several bitcoin ETFs.

A spot crypto ETF tracks the market price of the underlying digital asset, giving investors exposure to the token without having to buy the currency.

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