The Securities and Exchange Commission (SEC) has extended its timeline for deciding on BlackRock’s proposal for a spot Ethereum exchange-traded fund (ETF), as disclosed in a filing on Monday.

This represents the second postponement by the SEC regarding BlackRock’s iShares Ethereum Trust.

The regulatory body also posed inquiries to the public on Monday regarding the potential approval of the ETF, particularly focusing on whether Ethereum’s proof of stake mechanism presents distinctive concerns regarding susceptibility to fraud and manipulation.

Furthermore, the SEC deferred its decision on Fidelity’s spot Ethereum ETF, as indicated in a separate filing on Monday, and sought public input on the matter, echoing similar queries as those directed towards BlackRock.

BlackRock and Fidelity initially filed for their spot Ethereum ETFs in November. Subsequently, additional firms including Franklin Templeton, Ark 21Shares, VanEck, and Grayscale have also submitted filings.

Earlier this year, BlackRock, Fidelity, and other entities launched spot bitcoin ETFs following SEC approval.

Opinions among crypto experts vary regarding the likelihood of a spot ether ETF approval. Some anticipate SEC approval as early as May, citing recent approvals of bitcoin ETFs as a positive indicator.

Conversely, others, including Variant Fund Chief Legal Officer Jake Chervinsky, express caution, with Chervinsky highlighting legal and policy uncertainties as factors that could lead to a denial or SEC request for withdrawal.

SEC Chair Gary Gensler has emphasized that the agency’s approval of spot bitcoin ETFs is limited to those specific products and should not be interpreted otherwise.