The U.S. Securities and Exchange Commission (SEC) has delayed its decision on BlackRock's spot Ethereum ETF proposal to March, according to a newly released filing. "The Commission finds it necessary to have additional time to fully consider the proposal and related issues," the filing cited Wednesday.

The SEC now has until March 10 to approve, disapprove, or take further action on the ETF.

BlackRock filed for a spot Ethereum ETF called iShares Ethereum Trust in November. Fidelity's proposal for the Fidelity Ethereum Fund was also delayed according to a filing released last week.

Bloomberg Intelligence ETF analyst James Seyffart believes that delays for Ethereum ETF proposals could continue in the coming months.

"These delays will be common for the next few months. The next key date is May 23," Seyffart said in a post on X.

Will there be a spot Ethereum ETF?

Cryptocurrency experts are both optimistic and pessimistic about the likelihood of a spot Ethereum ETF in the future. Some believe that the SEC could approve one as early as May, following its approval of spot Bitcoin ETFs earlier this month.