SEC 推迟灰度以太坊 ETF 决定：监管持续阻碍

SEC Delays Grayscale Ethereum ETF Again: What's the Hold-Up?

美国证券交易委员会 (SEC) 再次推迟灰度以太坊 ETF：有何阻碍？

The Securities and Exchange Commission (SEC) has once again put the brakes on Grayscale's Ethereum (ETH) Futures Trust exchange-traded fund (ETF). The postponement, announced in an SEC filing on March 22, extends the deadline from March 31 to May 30.

美国证券交易委员会 (SEC) 再次对 Grayscale 的以太坊 (ETH) 期货信托交易所交易基金 (ETF) 踩刹车。 3 月 22 日向 SEC 提交的文件中宣布推迟，将截止日期从 3 月 31 日延长至 5 月 30 日。

What's the Story with Grayscale's ETF Application?

Grayscale 的 ETF 应用有什么故事？

Grayscale's Ethereum ETF has faced multiple delays, with the SEC seeking more time to mull over the proposed rule change and address concerns. The decision to approve or deny the ETF was initially scheduled for December 2023, but the SEC pushed it back, citing the need for more public input.

Grayscale 的以太坊 ETF 面临多次延误，美国证券交易委员会寻求更多时间来考虑拟议的规则变更并解决担忧。批准或拒绝 ETF 的决定最初定于 2023 年 12 月做出，但 SEC 推迟了这一决定，理由是需要更多公众意见。

The Broader Regulatory Landscape: A Crypto Crackdown?

更广泛的监管格局：加密货币打击？

The SEC's latest delay comes amidst heightened regulatory scrutiny of crypto-based financial products. This follows the recent approval of Bitcoin ETFs, which raised questions about the SEC's stance on crypto investments.

美国证券交易委员会最近的推迟是在加强对基于加密货币的金融产品的监管审查之际做出的。此前，比特币 ETF 最近获得批准，引发了人们对 SEC 对加密货币投资立场的质疑。

What's at Stake for Grayscale and the Crypto Industry?

灰度和加密行业的利害关系是什么？

Analysts speculate that the approval of Ethereum-based ETFs could send Ethereum prices soaring, challenging Bitcoin's dominance in the market. Grayscale's ETF would be a major player in this space, making its approval a key factor for the crypto industry.

分析师推测，基于以太坊的 ETF 的批准可能会导致以太坊价格飙升，挑战比特币在市场上的主导地位。 Grayscale 的 ETF 将成为该领域的主要参与者，使其获得批准成为加密行业的关键因素。

SEC Meets with Spot Ethereum ETF Applicants: A Glimpse Behind the Curtain

美国证券交易委员会会见以太坊 ETF 现货申请人：幕后一瞥

Earlier this month, the SEC met with applicants seeking approval for spot Ethereum ETFs. This meeting signaled growing interest in spot Ethereum ETFs after the successful launch of spot Bitcoin products.

本月早些时候，美国证券交易委员会会见了寻求批准现货以太坊 ETF 的申请人。这次会议表明，在成功推出现货比特币产品后，人们对现货以太坊 ETF 的兴趣日益浓厚。

The Road to Spot Ethereum ETFs: A Rocky Path

现货以太坊 ETF 之路：崎岖之路

The SEC has yet to make decisions on spot Ether-based products, with VanEck's filing leading the pack. Other major issuers, including BlackRock, Franklin Templeton Grayscale, and Invesco Galaxy, are eagerly awaiting responses.

美国证券交易委员会尚未就基于以太币的现货产品做出决定，其中 VanEck 的申请领先。其他主要发行人，包括贝莱德（BlackRock）、富兰克林邓普顿灰度（Franklin Templeton Grayscale）和景顺银河（Invesco Galaxy）都在热切等待回应。

VanEck's May 23 Deadline: A Pivotal Moment

VanEck 的 5 月 23 日截止日期：一个关键时刻

VanEck's filing faces a May 23 deadline, when the SEC must either approve or reject their bid. This decision will set the tone for subsequent decisions on similar applications from prominent asset managers.

VanEck 的申请面临 5 月 23 日的截止日期，届时 SEC 必须批准或拒绝他们的收购要约。这一决定将为著名资产管理公司的类似申请的后续决定定下基调。

Legal Challenges and Regulatory Uncertainty: Ethereum vs. Bitcoin

法律挑战和监管不确定性：以太坊与比特币

The path to approving spot Ethereum ETFs has been particularly bumpy due to regulatory complexities and concerns unique to Ethereum compared to Bitcoin. Variant Fund's Chief Legal Officer, Jake Chervinsky, expresses skepticism about SEC approval by the May deadline, citing legal issues and the policy environment in Washington, D.C.

由于监管复杂性以及与比特币相比以太坊特有的担忧，批准现货以太坊 ETF 的道路尤其坎坷。 Variant Fund 的首席法律官 Jake Chervinsky 对 SEC 在 5 月份截止日期前获得批准表示怀疑，理由是法律问题和华盛顿特区的政策环境。

SEC Chair Gary Gensler's Cautious Approach: A Dampener on Crypto Enthusiasm

SEC 主席加里·根斯勒 (Gary Gensler) 的谨慎态度：抑制加密货币热情

SEC Chair Gary Gensler's cautious approach to cryptocurrencies has added another layer of uncertainty to the approval process. Gensler has repeatedly highlighted the high-risk nature of crypto assets and the need for consensus among commissioners.

美国证券交易委员会主席加里·根斯勒 (Gary Gensler) 对加密货币的谨慎态度给批准过程增添了另一层不确定性。 Gensler 多次强调加密资产的高风险性质以及委员之间达成共识的必要性。

The Future of Spot Ethereum ETFs: A Complex Landscape

现货以太坊 ETF 的未来：复杂的格局

Despite the growing interest in spot Ethereum ETFs, regulatory challenges and ongoing dialogues with issuers highlight the complex dynamics shaping the future of Ether-based investment products in the market.

尽管人们对现货以太坊 ETF 的兴趣日益浓厚，但监管挑战以及与发行人的持续对话凸显了塑造市场上基于以太坊的投资产品未来的复杂动态。