BTC’s Bear Bounce: Sell the Rally Near $66K as Bears Target $59K–$52K Breakdown 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Ryan Cohen Rejects GameStop Pay Package, Prepares New eBay Acquisition Plan 
Trump’s Quantum Push Lifts IBM Stock as CEO Arvind Krishna Receives White House Praise 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
NTSB Investigates Boston Logan Airport Near-Miss Between Delta and American Airlines Jets 
Apple Signals Product Price Hikes Amid Rising Memory Chip Costs 
Today’s space race could turn fatal if we don’t agree on new rules 
SpaceX Stock Plunges 16% as KeyBanc Warns Valuation May Be Overstretched 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Apollo Debt Solutions Limits Redemptions as Withdrawal Requests Surge 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
The SEC has once again delayed Grayscale's application for a spot Ethereum ETF, pushing the decision to June 23 as it intensifies its examination of cryptocurrency ETFs. This marks another delay setback affecting major financial players like BlackRock and Fidelity.
SEC Extends Review of Grayscale's Ethereum ETF, Cites Comprehensive Compliance Checks
According to CoinGape, Grayscale filed Form 19b-4 with NYSE Arca in October to approve the transfer of its current Ethereum Trust into a spot ETH ETF. In January, Grayscale changed its Bitcoin Trust into a spot Bitcoin ETF.
The SEC's decision to delay is also based on objections and revisions to the proposal being considered. According to the agency, the improvements require more time to assess and resolve any issues. The updated proposal is being thoroughly reviewed to ensure compliance with all regulatory requirements.
This issue is not limited to grayscale. Other asset managers have had their comparable applications delayed by the SEC. Franklin Templeton's application has been postponed until June 11. Other major players, like BlackRock, Fidelity, and VanEck, have also been delayed.
Grayscale Enhances ETF Application Amid SEC Scrutiny, Aims for Regulatory Alignment
Following the SEC's latest action, Grayscale has taken another step to improve its application. The corporation filed Form S-3 in conformity with the US. Securities Act plans to expand its activity in the context of the Ethereum ETF sale. These procedures demonstrate Grayscale's commitment to gaining approval.
The delay in the approval of spot Ethereum ETFs demonstrates ongoing regulatory concern. Analysts warn that adding additional features to certain applications may cause problems. SEC Chairman Gary Gensler has stated that most cryptocurrency holdings are securities. This viewpoint may be influencing the SEC's cautious approach to these ETFs.
Despite setbacks, the crypto ETF sector has seen significant activity. Since the approval of its spot Bitcoin ETF, more than $12 billion in net inflows have been reported. In contrast, Grayscale's Bitcoin Trust experienced massive outflows, with a 50% drop in managed volume over the current week.
Photo: Microsoft Bing
