In a recent filing, the U.S. Securities and Exchange Commission (SEC) announced that it will be extending its review period for Grayscale Ethereum Futures Trust’s Ethereum ETF application. Originally due for a decision in April, the SEC has now pushed the deadline to May 30th, citing the need for additional time to thoroughly evaluate the proposal.
The Securities Exchange Act of 1934 allows the SEC up to 180 days from the publication of a proposed rule change to make a decision. Grayscale’s application, initially submitted in September, has seen delays since November when the SEC postponed its decision.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” stated the SEC, reaffirming its commitment to a comprehensive review process.
