The United States Securities and Exchange Commission (SEC) made a statement on January. The SEC has postponed its verdict regarding the spot Ethereum ETF proposed by Fidelity. This delay pertains to the evaluation of a suggested amendment to the rules, which would permit the Cboe BZX Exchange to list and offer shares of Fidelity’s intended ETF. The original proposal for this rule change was submitted in November. 249.61, which was made available for public review and feedback in the Federal Register in December 2023. On January 6, 2023, the Securities and Exchange Commission announced that, in accordance with the specified dates, it was obligated to either approve, deny, or begin proceedings to consider the disapproval of the proposed rule amendment by January 20. Nonetheless, the entity has decided to exercise an option to postpone the original deadline by an additional 45 days to March 5, 63.063. The SEC is anticipated to commence formal actions concerning Fidelity in March, following the precedent set with other funds currently awaiting decisions. Bloomberg ETF expert James Seyffart remarked today that the postponement by Fidelity was entirely anticipated and stressed that the crucial deadlines to pay attention to are those in late May. The SEC is required to make a final decision on VanEck’s spot Ethereum ETF proposal by May 23, likely because of the upcoming May deadline. Given that the SEC has initiated proceedings on VanEck’s submission, it is no longer able to postpone its verdict. The SEC commonly reviews and makes decisions on comparable ETFs at the same time, which means it’s expected to rule on all outstanding Ethereum-based spot ETFs toward the end of May, regardless of the various deadlines for those applications. Additionally, it’s worth mentioning that Fidelity, VanEck, and other firms were successful in obtaining approval for their spot Bitcoin ETFs on January 10. The triumph of Bitcoin ETFs cannot be assumed as an indication that Ethereum ETFs will receive the green light as well. Opinions among the public on this matter are mixed; for instance, there is a prediction market on Polymarket currently indicating that there is a 54% chance of spot Ethereum ETFs getting approved. Information on Ethereum’s price and its market statistics is also available.