The Securities and Exchange Commission (SEC) decided to take more time to review a proposed rule change by the Cboe BZX Exchange, Inc. related to the listing and trading of shares in the 21Shares Core Ethereum ETF. This proposed change would allow staking, a process where cryptocurrency holders can earn rewards. Originally, the SEC had a deadline of April 11, 2025, but has extended this to May 26, 2025, so they can thoroughly consider the rule change and any related issues.
Simple Explanation
The SEC is taking more time to decide if a new Ethereum fund on a big exchange can let people earn extra cryptocurrency by holding onto it. They need until the end of May to figure everything out.