SEC Delays Decision on Invesco and Galaxy Digital’s Ethereum ETF Requests
The United States Securities and Exchange Commission (SEC) has recently postponed its decision on the Ethereum ETF applications submitted by Invesco and Galaxy Digital. Originally scheduled for December 23rd, this delay was reported by ETF analyst James Seyffart of Bloomberg, marking yet another setback in the approval process.
Invesco and Galaxy Digital have partnered to launch the “Invesco Galaxy Ethereum ETF,” an initiative designed to directly hold Ethereum (ETH). This project sets itself apart from the many upcoming Ethereum futures ETFs. Invesco and Galaxy have also filed for a Bitcoin spot ETF.
General Anticipation for Crypto ETFs
The SEC’s hesitation is not limited to Invesco and Galaxy’s application; they have also extended the decision period for other crypto ETFs, including the Grayscale Ethereum Trust and Bitcoin ETF requests from companies such as BlackRock and Fidelity. The upcoming weeks are crucial, with an imminent window of approval in January for several pending requests.
This series of delays and decision extensions by the SEC fuels anticipation within the crypto industry. Experts remain optimistic, hoping that the SEC will approve these requests, which could mark the first approval of a Bitcoin spot ETF in the United States.