SEC Delays Decision on Grayscale and Franklin Templeton Proposals, Grayscale Plans Mini Ethereum Trust Spin-Off

The U.S. SEC has delayed the decision on Grayscale and Franklin Templeton’s proposed spot Ethereum ETFs, pushing the decision dates to June. In response, Grayscale announced a plan to spin off a Mini Ethereum Trust with lower fees from its ETHE. Bloomberg analysts see these movements as a final attempt to get the SEC’s attention, with approval looking unlikely. With ETH trading at $3150, investors may now turn their focus to Hong Kong ETFs as the US spot ETH ETF faces rejection odds below 15%. The Hong Kong ETFs are set to begin trading on April 30th with fees below 1%, sparking fee wars in the market. The future of ETH reaching $4K will depend on the success of these new ETFs.