The SEC has extended the deadline to February 6, 2024, for approving or denying the application for the Invesco Galaxy Ethereum ETF.
Cboe BZX Exchange submitted a proposed rule change to the SEC regarding the listing and trading of shares for the Invesco Galaxy Ethereum ETF.
The SEC Has Implemented A New Deadline
The proposal was published for public comment in the Federal Register on November 8, 2023.
However, the SEC is required to take action within 45 days of the publication of notice for a proposed rule change.
This extension allows for a more thorough examination of the proposed rule change, considering the issues raised during the public comment period.
The potential listing and trading of the Invesco Galaxy Ethereum ETF on Cboe could have significant implications for investors and the broader market.
However, BeInCrypto previously reported that the SEC delayed its decision on Grayscale’s Ethereum ETF with a deadline of January 25, 2024.
Other Asset Management Firms In the Ether ETF Race
The comments submitted during the public comment period can be accessed on the SEC’s official website.
The SEC’s extended review period aims to balance innovation and investor protection. The decision or further proceedings regarding the proposed rule change by Cboe BZX Exchange will be announced on February 6, 2024.
In addition to Invesco Galaxy and Grayscale, BlackRock has also filed for an Ethereum ETF with the US SEC. ARK Invest and its partner 21 Shares have previously filed for a spot Ethereum ETF.
Hot Take: SEC Extends Deadline for Invesco Galaxy Ethereum ETF
The SEC has extended the deadline for approving or denying the Invesco Galaxy Ethereum ETF application. This extension allows for a more thorough examination of the proposed rule change, considering public comments. The decision on whether to list and trade the ETF on Cboe could have significant implications for investors and the broader market. This comes amid news that BlackRock has also filed for an Ethereum ETF, joining other asset management firms in the race. The SEC’s announcement on February 6, 2024, will reveal its decision or further proceedings regarding the Invesco Galaxy Ethereum ETF.
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