SEC Puts Off Decision on Invesco Galaxy’s Spot Ethereum ETF Proposal
The formal decision by the US Securities and Exchange Commission regarding the Invesco Galaxy Ethereum exchange-traded fund has been postponed.
The agency has set a new deadline of July 5, 2024 to approve or deny the proposed spot ether fund.
This delay is to allow the SEC more time to carefully consider the proposal and any concerns raised. This is not the first delay, as the agency had previously pushed back deadlines and requested public comments in February.
The SEC has also extended deadlines for other spot Ethereum ETF proposals from companies such as Grayscale, Franklin Templeton, VanEck, and BlackRock.
However, the likelihood of the SEC approving a spot Ethereum ETF has decreased in recent months, with Bloomberg ETF analyst Eric Balchunas revising his estimate from 70% to 25%.
