Emma Nelson 
US SEC Delays Decision on Fidelity’s Ethereum ETF Options Proposal, Sets New May 2025 Deadline. The US Securities and Exchange Commission (SEC) has postponed its decision on Fidelity Investments’ request to list options on its spot Ethereum ETF product. Despite adhering to the scheduled review process, the agency has stated that it requires additional time to assess the proposal before making a final ruling.
Spot Ethereum ETF Options: Regulatory Delay
According to the SEC’s latest filing, the Commission will now target May 2, 2025, as the new tentative deadline to announce its decision regarding options trading on Fidelity’s spot Ethereum ETF. The regulatory body has also sought public comments on the proposal, with feedback submissions concluding on January 21, 2025.
Fidelity’s initiative to introduce options trading on its spot Ethereum ETF dates back to August 2024, when it formally submitted the request via the CBOE Exchange. The filing specifically aims to list options on the Fidelity Ethereum Fund (FETH), a move intended to enhance investment opportunities in Ethereum-based financial products.
This is not the first delay in Fidelity’s request. The SEC had previously extended its decision timeline on October 19, 2024, citing the need for further analysis. CBOE Exchange has also been actively pushing for the diversification of ETF offerings, positioning itself as a leader in the evolving cryptocurrency investment market.
SEC Expected to Rule on BlackRock’s ETH ETF Options in April
The growing institutional interest in Ethereum ETF options has led multiple asset managers to file similar proposals. Earlier in February 2025, the CBOE BZX Exchange submitted a proposed rule change seeking approval for options trading on the Bitwise Ethereum Fund.
Additionally, BlackRock has been actively working toward listing options on its iShares Ethereum Trust (ETHA). However, like Fidelity, BlackRock’s request has also faced delays from the SEC. The regulator has instructed Nasdaq to publish its decision regarding ETHA options trading by April 2025.
Market experts suggest that SEC approval for ETH ETF options could play a critical role in furthering Ethereum’s mainstream adoption, providing institutional investors with more risk management tools and investment strategies.
Ethereum ETF Staking: A Future Possibility?
While Ethereum ETF options remain in regulatory limbo, the SEC is also considering another key proposal—staking for Ethereum ETFs.
Fidelity’s FETH ETF is among the most prominent Ethereum investment vehicles, currently holding $1.3 billion in net assets, according to VettaFi data. In comparison, BlackRock’s iShares Ethereum Trust holds $3.7 billion in net assets, highlighting the increasing demand for regulated Ethereum investment products.
The SEC recently acknowledged a 19b-4 filing from CBOE Exchange, which seeks approval to enable staking for Ethereum ETFs through 21Shares Core Ethereum ETF (CETH). If approved, this feature could allow Ethereum ETF investors to participate in staking rewards, further expanding the appeal of ETH-based ETFs.
With US regulatory improvements underway, many analysts believe that Ethereum ETF options and staking approvals could be on the horizon. These developments may pave the way for wider institutional adoption of Ethereum as a mainstream asset class.
