The U.S. Securities and Exchange Commission is delaying a decision on next steps for the Invesco Galaxy Ethereum exchange-traded fund.
in filing Posted on Monday, the agency set July 5, 2024, as its next deadline to approve or disapprove the proposed spot ether ETF.
The Commission has determined that it is appropriate to specify a longer period for issuing an order approving or disapproving a proposed rule change in order to have sufficient time to consider the proposed rule change and the issues raised therein.
The SEC previously postponed its move on the Invesco Galaxy Ethereum ETF and requested public comment. february. The institution also postponed the closing date of another spot Ethereum ETF. proposal In the past few weeks, these include Grayscale, Franklin Templeton, VanEck, and BlackRock.
Optimism about the SEC approving such a product has diminished over the past few months. For example, Bloomberg ETF analyst Eric Balchunas said: lowered He estimated the likelihood of a spot Ethereum ETF being approved by the end of May at around 70% to 25%.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. She 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.