According to breaking information, the SEC postponed Invesco & Galaxy's Spot Ethereum ETF application.
The agency's postponement announcement specifically relates to a proposed rule change that would allow Cboe BZX to list and trade shares of the fund. The proposed rule change was published for comment in the Federal Register on November 8, 2023, the SEC noted. The SEC did not provide firm deadlines today. It said comments must be submitted within 21 days of publication in the Federal Register, and opposing comments must likewise be submitted within 35 days of publication.
Bloomberg's ETF expert James Seyffart said the following in his statement:
“SEC delays Invesco & Galaxy's Ethereum ETF. This was 100% expected and there will continue to be further delays in the coming months.
The only date that matters for spot Ethereum ETFs right now is May 23. This is VanEck's final decision date.”
*This is not investment advice.
