WASHINGTON - The U.S. Securities and Exchange Commission (SEC) has decided to extend its review period for the Cboe BZX Exchange's filing concerning Fidelity Ethereum Fund shares, deferring its verdict until March 5, 2024.
This decision was made as the agency requires additional time for a more comprehensive evaluation under Section 19(b)(2) of the Securities Exchange Act of 1934. The initial deadline for the decision was originally slated for January 20, but has now been delayed.
The extension of the review period by the SEC arrives during a challenging phase for the cryptocurrency market. The regulator has not yet reached a conclusion on the proposal, with the initial deadline having elapsed without an approval or disapproval.
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