The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on applications for several spot Ethereum (ETH) exchange-traded funds (ETFs), including proposals from major financial firms like BlackRock, Fidelity, and Grayscale. This delay, though expected by many in the crypto community, adds to growing uncertainty about whether the SEC is willing to treat Ethereum similarly to Bitcoin, for which spot ETFs were approved in early 2024. The regulator stated it needs more time to evaluate the proposed rule changes and consider public comments, pushing final decisions closer to the second half of 2025.
The repeated delays suggest the SEC is still grappling with key questions about Ethereum's regulatory classification—whether it should be considered a security or a commodity. This indecision has frustrated both institutional and retail investors who were hoping a spot Ethereum ETF would bring more legitimacy and capital inflow into the crypto market. While optimism remains that approval could come later this year, the SEC’s cautious approach signals continued regulatory hurdles for altcoin-based financial products.
