According to Decrypt, the Security and Exchange Commission (SEC) announced that it will require more than 45 days to evaluate a rule change that would enable Grayscale to convert its Ethereum trust into an Ethereum spot ETF. The new deadline has been set for January 25, 2024. The official notice stated that the commission finds it appropriate to designate a longer period within which to take action on the proposed rule change, allowing sufficient time to consider the proposal and the issues raised therein. This decision comes two weeks after the SEC delayed a separate request from Grayscale to evaluate its proposal for an Ethereum futures ETF.

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