The U.S. Securities and Exchange Commission (SEC) announced a delay in making a decision on Grayscale's application to convert its Ethereum Trust into a spot ETF, pushing the final decision date to January 25, 2024. This is the SEC's second delay regarding this application, as the agency has previously postponed the approval of several Bitcoin spot ETFs. Market analysts believe that the SEC takes a cautious stance on cryptocurrency ETFs and may require a clearer regulatory framework.