[NEWS] US SEC postpones decision on two Ethereum ETFs until next year

2024/08/09 09:14 (Updated 2025/06/04 16:40)
Editors of Iolite
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[NEWS] US SEC postpones decision on two Ethereum ETFs until next year

Decision on Ethereum ETF postponed

On the 19th, the SEC (U.S. Securities and Exchange Commission) announced that it would postpone its decision on Grayscale's Ethereum (ETH) futures ETF and Hashdex's Ethereum futures and spot ETFs until next year. The SEC had previously postponed the review period for the two companies on the 15th of last month.

Regarding the applications of both companies, the SEC is seeking extensive public comment on whether Ethereum's unique features, such as its consensus algorithm, PoS (Proof of Stake), are vulnerable to market manipulation and fraud, and whether each ETF has taken measures to mitigate these risks.

In particular, the SEC pointed out the impact that Grayscale's Ethereum Future Trust, an Ethereum futures ETF, would have if a competitor began offering the product.

Hashdex's Ethereum ETF is a hybrid ETF of spot and futures. The SEC raised issues about the liquidity of the product, futures-based spot pricing, and the correlation between the spot and futures markets. The SEC is quite cautious about hybrid futures and spot ETFs.

In October, the SEC approved Ethereum futures ETFs applied for by nine companies. It was thought that Grayscale's Ethereum futures ETF would be approved soon, but the SEC seems to have decided that there is a problem with the product's structure.

However, there have been no cases of Ethereum spot ETFs being approved yet. This is the same measure as the Bitcoin spot ETF, and the SEC continues to be cautious about approving cryptocurrency spot ETFs.

Reference:Announcement
Image: Shutterstock

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July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.