The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the spot Ether exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital.
The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the spot Ether exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital.
In a notice issued on December 13, the SEC stated that it would extend the period for consideration of a proposed rule change. This change would enable the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF.
As per the notice, the 45-day period following the publication of the proposed rule change ends on December 23, 2023. The SEC has designated February 6, 2024, as the deadline for either approving or disapproving the rule change, or initiating proceedings to determine disapproval.
This comes as the SEC recently announced it will delay its decision on Grayscale's proposed Ethereum spot ETF, stating that it will need more time to assess a proposed rule change that would allow NYSE Arca to list and trade shares of the Grayscale Ethereum Trust.
Notably, other firms such as BlackRock, Hashdex, ARK 21Shares, VanEck, and Fidelity have also applied for spot crypto ETFs. Recently, representatives from these asset managers have held meetings with SEC officials to discuss their ETF offerings. This has raised speculation that an approval from the SEC is imminent, and that multiple spot ETF applications would be passed simultaneously.
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