SEC Delays Verdict on Invesco Galaxy Ethereum ETF (ETH) Until July 2024: Crypto Market Awaits Outcome

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SEC Delays Decision on Invesco Galaxy Ethereum ETF Until July 2024

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Invesco Galaxy Ethereum exchange-traded fund (ETF) until July 5, 2024.
This delay allows the SEC additional time to thoroughly review the ETF proposal and address any concerns.
The Grayscale Ethereum Trust currently stands as the world’s largest ether investment product, managing almost $5 billion in assets.

The SEC has delayed its decision on the Invesco Galaxy Ethereum ETF, allowing more time for a thorough review. This comes amidst a climate of uncertainty for Ethereum ETFs, with the Grayscale Ethereum Trust remaining the largest Ether investment product.

SEC Postpones Decision on Ethereum ETF

The SEC has announced a further delay in its decision regarding the Invesco Galaxy Ethereum exchange-traded fund (ETF). According to a regulatory filing, the SEC has extended the deadline to July 5, 2024, to approve or disapprove the proposed spot ether ETF. The Commission stated that the extension will provide sufficient time to consider the proposed rule change and the issues raised therein.

Pattern of Delays and Uncertainty

This delay is part of a pattern, as the SEC had previously postponed its decision on this ETF and sought public comments in February. Similar extensions have been applied to other spot Ethereum ETF proposals from major financial entities, including Grayscale, Franklin Templeton, VanEck, and BlackRock, over recent weeks. Optimism about the approval of a spot Ethereum ETF has been waning, with shifts in expectations from industry analysts. Bloomberg ETF analyst Eric Balchunas noted that the likelihood of the SEC approving such ... Read the full article for FREE at COINOTAG!