ETF Ethereum: SEC Tunda Keputusan dari BlackRock dan Fidelity

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Bittime  -The price of Ethereum (ETH) will skyrocket due to the delay in the SEC's decision regarding the Ethereum ETF. The United States Securities and Exchange Commissionhas again postponed a decision regarding the approval of Ether (ETH) Exchange-Traded Funds (ETF) applications from BlackRock and Fidelity. 

The delay was announced in a separate filing on March 4, extending the wait for enthusiastic crypto investors for this investment product.

Previously, the SEC had also postponed a decision on Ether ETF applications from BlackRock and Fidelity in January, shortly after approving the launch of several Bitcoin (BTC) ETFs . This regulator has the authority to postpone a decision up to three times before reaching a final decision.

This SEC delay decision did not surprise market participants and ETF analysts. They have long speculated that the SEC would wait for a final deadline in May before rendering a final decision, either approval or disapproval.

Bloomberg ETF analyst James Seyffart, in a post on

Despite the delay, Ether's price itself continues to be driven by broad market optimism regarding the potential for ETF approval. Ether prices have seen a 56.7% increase in the past month, and were unaffected by today's SEC delay decision. When this article was written, the price of Ether was trading at around $3,754, up 13% for the week according to CoinGecko data.

However, not everyone is convinced that an Ether ETF will have as much impact as a Bitcoin ETF. In comparison, BlackRock 's iShares Bitcoin ETF has accumulated $10 billion in assets under management.

Bloomberg ETF analyst, Eric Blachunas, said that he and his colleague, Seyffart, would soon issue an estimate of the chances of approval for an Ether ETF. However, he also described the unapproved funds as “small potatoes” compared to the popularity of Bitcoin funds.

This delay raised several questions and discussions among investors and market players:

Reason for SEC Delaying Ethereum ETF Decision?

The SEC's official reasons for delaying the decision have not been made public. However, several speculations are circulating, including:

• Regulatory Concerns: The SEC may still have concerns regarding the regulation of crypto assets, particularly regarding potential market manipulation and the security of digital assets.
• Lack of Clarity: The SEC may need additional time to evaluate applications and ensure compliance with existing regulations.
• Awaiting Other Decisions: The SEC may be awaiting a decision from the court regarding a lawsuit against its previous rejection of several Bitcoin ETF applications.

Also Read How to Buy Crypto:

What Impact Will Delaying the Ethereum ETF Decision Have on the Market?

This delay may impact the price of Ether in the short term. Investors who are already preparing to invest via ETFs may postpone their decision until certainty is received. However, overall, the impact of the delay is expected to be temporary.

Market optimism regarding the potential future approval of an Ethereum ETF remains strong, as reflected by the recent rise in Ether prices. Analysts estimate that the final decision from the SEC will come out in May.

Comparison of the Impact of an Ethereum ETF with a Bitcoin ETF?

Even though it has the same potential to attract new investment into the crypto ecosystem, the impact of an Ethereum ETF is predicted to not be as big as a Bitcoin ETF. The more established popularity of Bitcoin and its dominance in the crypto market is a major driving factor in the success of Bitcoin ETFs.

However, the presence of the Ether ETF is expected to increase the liquidity and transparency of the Ether market, as well as make it easier for institutional and retail investors to access this crypto asset.

ETH Price Today

Source: Bittime.com

On March 5, 2024, the price of Ethereum (ETH) was at IDR 58,432,786 per coin, up 6.68% in 24 hours, 6.20% in the last week and 15% in the last 30 days.

Conclusion

The delay in the SEC's decision on Ether ETF applications from BlackRock and Fidelity caused disappointment for some investors. However, this delay does not necessarily indicate rejection. Analysts estimate that the final decision will come out in May.

Although the impact may not be as big as a Bitcoin ETF, the presence of an Ethereum ETF in the future has the potential to have a positive impact on the development of the crypto ecosystem as a whole.

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How to Buy Ethereum (ETH) on Bittime

You can buy and sell  Ethereum (ETH)  in an easy and safe way via  Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Ethereum (ETH)  is available on Bittime with  the market pair ETH/IDR . To be able to buy  ETH/IDR  at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn  the complete guide on how to buy Ethereum (ETH) on Bittime . 

Monitor price chart movements  for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.  

Also Read:

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Crypto Market Upheaval: Impact of Ethereum Foundation's $13 Million Sale, Watch Out for a Sharp Correction?

Ethereum Price Moves Towards $4,000: Will ETH/IDR Set a New Record?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.