{"id":365965,"date":"2024-01-25T23:00:54","date_gmt":"2024-01-25T17:30:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=365965"},"modified":"2024-01-25T17:51:07","modified_gmt":"2024-01-25T12:21:07","slug":"sec-delays-ethereum-etf-approval-as-eth-faces-six-day-downtrend","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/sec-delays-ethereum-etf-approval-as-eth-faces-six-day-downtrend\/","title":{"rendered":"SEC delays Ethereum ETF approval as ETH faces six-day downtrend"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Blackrock gets delayed spot ETH ETF decision.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">ETH hits six consecutive days of downtrends.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following the approval of <a href=\"http:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin [BTC]<\/a> spot ETFs, the focus has shifted to <a href=\"http:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" target=\"_blank\" rel=\"noopener\">Ethereum [ETH]<\/a> spot ETF proposals submitted to the SEC. The prominent institutions that spearheaded spot BTC ETFs are now leading the way for spot ETH ETFs, with one having received a recent response from the SEC.<\/span><\/p>\n<h4><b>Blackrock&#8217;s Ethereum spot ETF approval extended<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">BlackRock was one of the major institutions that recently secured approval for its spot Bitcoin ETF. The company is actively pursuing approval for a spot Ethereum ETF, as evidenced by its submitted documentation to the SEC. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some weeks ago, the CEO of BlackRock spoke positively about the value of a spot ETH ETF in an interview.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unfortunately, the SEC has deferred the realization of a spot ETH ETF. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nasdaq\/2024\/34-99419.pdf\" target=\"_blank\" rel=\"noopener\">document<\/a> released by the SEC on the 24th of January showed that the regulatory body has opted for a decision extension. According to the document, the decision was delayed by an additional 45 days.<\/span><\/p>\n<h4><b>Major Ethereum spot ETF decisions not to come till May<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The SEC&#8217;s extension of the decision for BlackRock&#8217;s application is not an isolated case; Fidelity recently received a similar response. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The SEC, mirroring its action with BlackRock, has extended its decision on Fidelity&#8217;s proposal for a spot <a href=\"http:\/\/ambcrypto.com\/sec-makes-spot-ethereum-etf-decision-as-eth-outflows-have-their-say\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> ETF. This trend suggests that other applications may encounter a similar response from the SEC. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1750247415137833151\" target=\"_blank\" rel=\"noopener\">James Seyffart<\/a>, an analyst at Bloomberg, the delays are expected to be &#8220;sporadic&#8221; in the upcoming months. Additionally, he anticipates that major decisions may unfold in May.<\/span><\/p>\n<h4><b>ETH decline persists\u00a0<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite recent developments in ETFs, <a href=\"http:\/\/ambcrypto.com\/ethereum-active-validators-bounce-back-as-etf-dust-settles\/\" target=\"_blank\" rel=\"noopener\">Ethereum&#8217;s<\/a> performance over the past few days has appeared unaffected. As of this writing, <a href=\"http:\/\/ambcrypto.com\/ethereum-will-high-network-activity-lead-to-a-price-hike\/\" target=\"_blank\" rel=\"noopener\">ETH<\/a> has sustained a six-day consecutive downtrend. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although, the decline has been slight in the last two days, around 0.01% as of the latest data.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">\u00a0Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/ethereum-profit-calculator\" target=\"_blank\" rel=\"noopener\">ETH Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, it has pushed the trend below its short-moving average (yellow line) for the first time in about four months. This suggests a weakening trend in the price, an observation also shown by its Relative Strength Index (RSI). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, the RSI was around 40, indicating a strong bearish trend.<\/span><\/p>\n<figure id=\"attachment_365969\" aria-describedby=\"caption-attachment-365969\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55.png\"><img decoding=\"async\" class=\"wp-image-365969 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55.png\" alt=\"Ethereum daily timeframe price trend\" width=\"1793\" height=\"785\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55-300x131.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55-1024x448.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55-768x336.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ETHUSD_2024-01-25_12-10-55-1536x672.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-365969\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>Blackrock is the latest institution to have its spot Ethereum ETF proposal decision delayed by the SEC.<\/p>\n","protected":false},"author":76,"featured_media":365971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[32,66,3,4,20],"tags":[],"class_list":["post-365965","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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