The Securities and Exchange Commission has postponed its decision schedule on whether to approve the proposed Invesco Galaxy Ethereum ETF.
The agency previously postponed a decision on the funding in December and said Tuesday it was “beginning the process.”
“Given the legal and policy issues raised by the proposed rule change, filing a lawsuit is appropriate at this time,” the SEC said. filing.
The agency postponed deadlines for other spot Ethereum ETF offerings, including: grayscale Investment last month. On Tuesday, the agency asked Grayscale a similar question. Ethereum’s proof-of-stake mechanism and “concentration of control or influence by a small number of individuals or entities” may raise unique concerns that make funds vulnerable to fraud and manipulation.
The SEC announced that the deadline for submitting opinions on the Invesco Galaxy Ethereum ETF is the 21st and the rebuttal period is the 35th.
Spot Ethereum ETF
It is unclear if and when the agency will approve a spot Ethereum ETF. investment banking TD Cowen One said it would be approved in late 2025 or early 2026, while others thought the SEC could approve it. approve Please send it by May 23rd.
Other analysts suspicious The agency will likely approve a spot Ethereum ETF at any time.
SEC Chairman Gary Gensler said last month that the agency’s move to approve several spot Bitcoin ETFs was just a limited It is limited only to that cryptocurrency and “should not be read as anything other than that.”
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.