The U.S. Securities and Exchange Commission (SEC) has extended its decision deadline on Fidelity’s proposed spot ethereum exchange-traded fund (ETF) to March 5, according to a filing on Thursday.
"The Commission believes that specifying a longer period of time for action is appropriate with respect to the proposed rule changes to allow sufficient time to consider the proposed rule changes and the issues raised therein," the SEC said.
Fidelity filed for the Fidelity Ethereum Fund in November, noting in its proposal that in a court ruling last year, a judge said the SEC failed to find reasonable grounds to reject a spot crypto ETF, when it had already allowed one based on futures. The product.