Mar 21, 12:11 PM

Coinbase Cites "NO GOOD REASON" for SEC's Delay on Ethereum ETFs, Decision Expected by May 2024

Coinbase's Chief Legal Officer, Paul Grewal, has publicly criticized the SEC for having "NO GOOD REASON" to deny the approval of spot Ethereum ETFs, emphasizing that "Americans deserve better." This statement comes as the SEC faces scrutiny over its cautious stance towards Ether, highlighted by Eric Balchunas's comments on SEC Chair Gary Gensler's apprehension due to "past events" potentially influencing the decision-making process, with the SEC deadline in 63 days. Despite the criticism, the SEC has delayed its decision on Grayscale's Ethereum Futures ETF, marking another postponement in the approval process expected in May 2024. Grayscale, known for its efforts in paving the regulatory path for cryptocurrency ETFs, remains in a holding pattern, with both its futures and spot ETF applications pending.