SEC Extends Decision Period for Invesco and Galaxy’s Spot Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) has extended the decision period for the spot Ethereum ETF proposed by Invesco and Galaxy Digital. The extension is related to a proposed rule change from Cboe BZX that would allow the listing and trading of shares of the fund. The SEC has chosen to institute proceedings for approval or disapproval, requesting commenters to address concerns regarding fraud prevention, market manipulation, and investor protections. While exact deadlines were not provided, comments should be submitted within 21 days of publication in the Federal Register, with rebuttal comments due within 35 days.
May Remains Key Time Frame for Spot Ethereum ETF Approval
The extension does not affect the broader approval timelines for Ethereum ETFs. Bloomberg ETF analyst James Seyffart highlighted May 23rd as a significant date, which marks VanEck’s final deadline for its proposal. The SEC is expected to decide on multiple similar proposals simultaneously, potentially including those with deadlines beyond VanEck’s proposal. Other spot Ethereum ETFs have also been postponed in recent weeks, but these delays do not change the overall decision deadline set for May. The likelihood of approval for a spot Ethereum ETF remains uncertain, with various predictions ranging from 43% to 60% chance of approval.
Hot Take: US SEC Delays Decision on Invesco and Galaxy Digital’s Joint Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) has extended the decision period for Invesco and Galaxy Digital’s proposed spot Ethereum ETF. This delay comes as no surprise to analysts who anticipated further delays in the coming months. While this extension impacts Invesco and Galaxy’s proposal, it does not affect the broader timeline for Ethereum ETF approvals. The SEC is expected to make decisions on multiple similar proposals, with May 23rd being a significant date for VanEck’s final deadline. The likelihood of approval for a spot Ethereum ETF remains uncertain, with predictions ranging from 43% to 60% chance of approval. The SEC’s decision is eagerly awaited by the crypto community as it will shape the future of Ethereum ETFs.
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