Breaking news: SEC changes its decision on Ethereum ETF! How will the ETF process proceed? Here are the up-to-date details...

While the uncertainty regarding the Ethereum ETF, which came to the fore after the Bitcoin stop ETF approval, continued, a new decision came from the SEC. The Securities and Exchange Commission (SEC) recently announced that it has changed the decision schedule for BlackRock's spot Ethereum exchange-traded fund (ETF) application. The regulator, which extended the deadline for a final decision after the old decision schedule, pointed to the proposed rule change and related concerns, and expressed the need for additional time to conduct a comprehensive assessment.

For now, March 10 is the timeline set for the SEC to approve BlackRock's innovative investment vehicle, known as the iShares Ethereum Trust, or to initiate further proceedings. Prior to this extension, BlackRock had applied for a spot Ethereum ETF in November.

How is the Ethereum Stop ETF process going?

The decision on the Ethereum ETF approval, which was first brought to the agenda by the Nasdaq Exchange in November last year, is eagerly awaited. The SEC's need to comprehensively evaluate its comprehensive approach to addressing potential risks associated with the Ethereum Trust, particularly this proposal and the related issues surrounding the spot Ethereum ETF, resulted in an extension of the initial 45-day review period, which was set to end on January 25, 2024.


On Dec. 11, 2023, the Nasdaq exchange applied to the iShares Ethereum Trust on behalf of BlackRock, making BlackRock the largest asset management firm with over $9.1 trillion in assets under management. This delay in the SEC's decision is the first of several possible extensions within an expected 240-day period. Other companies awaiting approval for spot Ether ETFs include VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, and Hashdex, with deadlines ranging from May to July of 2024. In addition, another prediction is for the VanEck Ethereum ETF application, and the deadline is May 23.

In addition, expectations for Ethereum ETFs have also risen after the SEC recently approved 11 spot Bitcoin ETFs. Other companies, notably BlackRock's, have sought similar approval for Ethereum ETFs. BlackRock's Bitcoin ETF has witnessed significant inflows in two weeks, outshining the Grayscale Bitcoin Trust, which has seen outflows after being converted from a closed fund.

Initial views on Ethereum ETF and JPMorgan prediction

The developments regarding the Ethereum ETF, which is a very important development for investors and experts, are considered an important step for the adoption of foreign assets. For this reason, the SEC's cautious stance and future decisions are of great importance in the changing regulatory environment.

JPMorgan's analysis is also based on this context, pointing out that Ethereum will move from proof-of-work to proof-of-stake in 2022, influencing decentralization, the traditional market, and aligning Ether more closely with altcoins beyond Bitcoin. JPMorgan, which acknowledges previous SEC classifications of some altcoins as securities, estimates that there is no more than a 50% chance that the SEC will approve the Ethereum ETF by May.


The SEC's decision on BlackRock's Ethereum ETF will have significant implications for the broader market and investor sentiment as the regulatory dynamic shifts in the cryptocurrency market continue. Whether the decision to approve ETH ETFs will be extended further is closely monitored, as are new developments in the cryptocurrency market.

In addition to the change of decision regarding the Ethereum ETF, the developments regarding meme coins are also closely followed by the investor. One of these developments, the launch of Sponge V2 and the start of pre-sales, has been met with interest among investors looking for excitement. Because Sponge V2 offers the chance to earn more earnings with its astonishingly high AYP rate of 280 percent.

What is the Sponge V2 token and what are its advantages?

Sponge V2, the successor to Sponge V1, one of the successful new coins of 2023, is purchased through staking, unlike ordinary pre-purchases. First of all, you are offered the chance to win Sponge V2 after staking the Sponge V1 token, which was released last year. This method, known as "Stake-to-Bridge", is a good solution for those who missed out on the first pre-emption. In addition, the project, which is exciting as a play-to-earn game (P2E), provides both paid and free participation in the games. At the same time, the first purchased SPONGEV1 tokens are staked to earn token purchases with lower fees.

Finally, when we look at the technical data of Sponge V2, it is seen that there has been a price increase of 2720.86 percent. According to data from the official website, the SPONGEV2 project, which has a current sale price of $0.000680, announced that $5,445,468.33 million has been staked in account X. The rapidly growing project can be purchased with ETH, USDT and card through wallet options such as MetaMask, Wallet Connect and Best wallet.

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