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Crypto News – SEC ETF Decision Delay: The Agency Postpones Decision on Invesco Galaxy’s Ether ETF

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Crypto News - SEC ETF Decision Delay: The Agency Postpones Decision on Invesco Galaxy's Ether ETF

Crypto News – No Action on Invesco Galaxy’s Ether ETF Until July 5 as SEC ETF Decision Delayed

Crypto News - No Action on Invesco Galaxy's Ether ETF Until July 5 as SEC ETF Decision Delayed
Crypto News - SEC ETF Decision Delay: The Agency Postpones Decision on Invesco Galaxy's Ether ETF 1

Crypto News – Regarding Invesco Galaxy‘s request for a spot Ether ETF, the SEC has postponed making a decision. The SEC extended its deadline for deciding on the Invesco Galaxy spot Ether ETF by 60 days, to July 5, in a filing on May 6.

The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,

the SEC

Consistent with analyst forecasts, the SEC has postponed making decisions on applications from eight potential issuers of Ether ETFs, including BlackRock, Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares, in recent months.

Why are Analysts Desperate About Spot Ether ETF Approval?

Senior Bloomberg ETF analyst Eric Balchunas reduced his prediction in March that the SEC would approve the ETFs from 50% to 25% because he was less certain that the agency would accept VanEck’s offer in time. Balchunas blamed the declining chance of approval on the SEC’s protracted “radio silence” toward potential fund issuers as well as growing political resistance to SEC Chair Gary Gensler.

The “only deadline that matters” for VanEck’s Ether ETF registration is May 23, according to Bloomberg ETF analyst James Seyffart in a March 20 X post. Seyffart stated that he was no longer “cautiously optimistic” about the forthcoming applications for Ether ETFs. He anticipates that on May 23, the SEC will “ultimately deny” all applications for an Ether ETF as of March 20.

Frequently Asked Questions About SEC ETF Decision Delay

What is Invesco Galaxy?

An independent investment management firm, Invesco was founded to assist institutions, financial advisors, and individual investors in reaching their financial objectives. Model portfolios, mutual funds, ETFs, SMAs, indexing and insurance solutions, and more are among their asset management offerings.

Will the SEC Approve Ether ETFs?

There is just a 25% likelihood that the SEC would approve a spot Ethereum ETF, according to senior ETF analyst Eric Balchunas of Bloomberg.

Crypto News - SEC ETF Decision Delay: The Agency Postpones Decision on Invesco Galaxy's Ether ETF
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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