Ethereum News: SEC Delays Decision on Fidelity’s Spot Ethereum ETF Options

In a recent development that has captured the attention of the cryptocurrency community, the U.S. Securities and Exchange Commission (SEC) has decided to postpone its ruling on Cboe Exchange’s application to list options on Fidelity Investments’ spot Ethereum exchange-traded fund (ETF). This delay could have significant implications for the future of Ethereum and the broader crypto market.

SEC Delays Decision on Fidelity’s Spot Ethereum ETF Options

The U.S. Securities and Exchange Commission has delayed its decision on whether to approve or reject Cboe Exchange’s application to list options on Fidelity Investments’ spot Ethereum exchange-traded fund. According to a regulatory filing, the SEC said it was pushing its decision on the Ethereum (ETH) product forward, allowing sufficient time to consider the proposed rule change. As a result, Cboe will have to wait longer before knowing whether it has received approval to list options contracts on Fidelity’s Ethereum Fund, ticker FETH.

Ethereum Faces 50% Drop Amid Market Volatility

Ethereum (ETH) has lost nearly 50% of its value since the end of the 2024 bull market fueled by President Donald Trump’s election victory. The broader cryptocurrency market is also down approximately 30% from its three-month high. Ethereum, the second-largest cryptocurrency by market capitalization, was trading at $2,102 on Friday, marking a drop of more than 10% in the past 24 hours and 22.8% over the last seven days. This price is the lowest Ethereum has reached since December 2023. Ethereum’s recent struggles are part of a broader market downturn, with the cryptocurrency experiencing a wave of forced sell-offs, adding to the downward price pressure.

Ancient Whale Sells 14,000 ETH, Price Tests Key Support

An early Ethereum (ETH) investor has reportedly sold 14,000 ETH worth approximately $31.92 million through over-the-counter (OTC) trading desk Wintermute. This move could signal growing selling pressure from long-term holders. The wallet’s ETH can be traced back to an address that accumulated 35,932 ETH between September 2016 and December 2018 at an average purchase price of $203.22, realizing an estimated profit of $29.07 million from the recent sale. The whale’s large sale comes at a crucial moment for Ethereum’s price action, with $1,890 highlighted as a key support level.

Ethereum’s Path to $15,000 – Can It Break All-Time Highs?

Ethereum (ETH) is predicted to rise to $12,000 with major resistance points forming between $4,000 to $6,000 and $8,000. Technical indicators suggest a potential breakout, and ETH has the potential to grow 10.73% in five days if it maintains above $2,500 and $3,000. This bullish outlook needs the prices to stay above these levels for sustainability.