The SEC Delays Decision on Invesco and Galaxy Digital’s Ethereum ETF Application
The U.S. Securities and Exchange Commission (SEC) has announced a delay in considering the application for a spot Ethereum (ETH) ETF, which was proposed by Invesco and Galaxy Digital. The SEC has stated that it will initiate proceedings to determine whether to approve or deny the proposed rule change allowing the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. The decision deadline has been pushed to 35 days after publication in the Federal Register due to the opening of the investment vehicle to public comment.
Postponement of Deadlines for Other Ethereum ETF Applications
Several other authors of applications for spot Ethereum ETFs have also faced delays in the consideration process. This includes applications for the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. Despite these postponements, experts remain optimistic about the eventual approval of these investment tools in the near future.
Global Market Analysis of Ethereum ETFs
CoinGecko experts have conducted a study on the global market for Ethereum ETFs, anticipating their approval in the United States. The study reveals that Europe and Canada currently dominate this market, accounting for nearly 98% of the $5.7 billion worth of Ethereum ETFs.
Hot Take: The Future of Ethereum ETFs
As more applications for spot Ethereum ETFs emerge, it is clear that there is significant interest and demand for these investment vehicles. While regulatory processes may cause delays, experts believe that approval is imminent. If approved, the introduction of Ethereum ETFs in the United States could provide new opportunities for investors and further contribute to the growth and adoption of cryptocurrencies.
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