The U.S. Securities and Exchange Commission (SEC) has decided to delay its ruling on BlackRock's plan to add staking to its iShares Ethereum Trust.
SEC Decision and Its Reasons
The SEC has set a new date of October 30 for the decision on BlackRock’s proposal to take more time for detailed consideration.
"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 proposal and the issues raised," the SEC stated.
Other Ethereum ETFs Awaiting Decisions
This is not the first time the SEC has delayed such decisions. For instance, proposals from the Chicago Board Options Exchange for the 21Shares Ethereum ETF and the New York Stock Exchange for the Grayscale Ethereum ETF are also awaiting decisions, with deadlines set for October 23 and 29 respectively.
Market and Discussions Around Staking
The potential approval of staking has become a significant topic in the market. The price of Ethereum has risen in recent months, with many believing that the expectation of staking being included in ETFs is one reason. The SEC has previously made it clear that staking by itself is not a security, which boosts supporters' confidence.
The final decision by the SEC regarding BlackRock’s fund is expected on October 30, with market experts suggesting that several other proposals may see resolutions around the same time.
