On Thursday, the Securities and Exchange Commission (SEC) announced the deadline regarding Fidelity's spot Ethereum exchange-traded fund (ETF) proposal has been extended to March 5.

It [said](https://www.sec.gov/files/rules/sro/cboebzx/2024/34-99390.pdf), "The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein."

Fidelity submitted its application for the Fidelity Ethereum Fund in November. In their proposal, they referenced a court ruling from the previous year, in which judges had pointed out the SEC's lack of a clear rationale for rejecting spot cryptocurrency ETFs while permitting futures-based products.

A month after futures ETFs went live, Fidelity joined BlackRock in trying to launch a spot Ethereum ETF.

Sat Jan 20 2024 SEC Postpones Decision on Fidelity's Spot Ethereum ETF Proposal

Sat Jan 20 2024

SEC Postpones Decision on Fidelity's Spot Ethereum ETF Proposal