SEC Postpones Decision on Invesco and Galaxy Ethereum Spot ETF

The US Securities and Exchange Commission (SEC) has granted a further extension for the consideration of a proposal from Invesco and Galaxy to launch an Ethereum-based spot ETF.

The decision is now expected by July 5, 2024, according to the department’s website.

“The Commission has determined that a longer period is necessary to provide sufficient time for further consideration of the proposed rule change and the issues raised by it,” stated the SEC representatives.

The SEC previously extended the review period for a similar application from BlackRock and continues to face a May deadline for proposals from VanEck and Grayscale.

However, experts from Standard Chartered are doubtful that any spot ETH-ETFs will be approved by this date, citing a lack of productive discussions between the Commission and issuers.