The extended date for ETH approval is March 5, 2024

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Originally, the decision was scheduled to be made by January 20, 2024. However, the SEC has decided to extend the deadline to March 5, 2024. This delay significantly impacts the proposal by Cboe BZX Exchange regarding the listing and trading of shares for Fidelity’s Ethereum Spot ETF under Rule BZX 14.11(e)(4), related to commodity-based trust securities.

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If approved, the Fidelity Ethereum Spot ETF would mark a significant step in integrating Ethereum-based investments into the mainstream financial market.

Many organizations want to own ETH because they can stake it and generate profits. Without profitability, some ETF asset managers could become wealthy. For example, BlackRock could earn all the profits as they would receive returns from ETH bets without sharing them with ETF holders.

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There won’t be a spot Ethereum ETF soon. The SEC is expected to strongly oppose it, as they, along with many others, consider ETH is a security.

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It indicates that the price of ETH is set to rise.

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The transition of ETH from Proof of Work to Proof of Stake seems quite unsettling, especially as new currency is seemingly generated out of thin air. A prime example of this currency creation out of thin air is LUNA.

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There is no blockchain that is completely secure. Only Bitcoin is entirely decentralized! All other types of coins are risky because issuers hold a large amount.