The U.S. Securities and Exchange Commission (SEC) has announced an extension of the review period for the Cboe BZX Exchange’s filing related to Fidelity Ethereum Fund shares.
The SEC has deferred its final decision on the matter until March 5, 2024, citing the need for additional time to conduct a more comprehensive evaluation under Section 19(b)(2) of the Securities Exchange Act of 1934. The original deadline for the SEC’s decision was initially set for January 20 but has now been extended.
The decision to prolong the review period comes at a challenging juncture for the cryptocurrency market. The SEC has yet to reach a conclusion on the proposal, and the initial deadline has passed without an official approval or disapproval.