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CDS Crypto News Ether ETF:SEC Pushes Back Evaluation of Yet Another Ether ETF Application

Crypto News

Ether ETF:SEC Pushes Back Evaluation of Yet Another Ether ETF Application

The decision on whether to approve or deny a joint Ether ETF product has been postponed, consistent with analyst predictions.

Ecem EFE07/02/20241 Mins read356

Crypto News– The U.S. Securities and Exchange Commission (SEC) postponed its decision on a spot ether (ETH) exchange-traded fund (ETF) proposed jointly by Invesco and Galaxy Digital, according to a filing released on Tuesday.

Ether ETF:SEC Pushes Back Evaluation of Yet Another Ether ETF Application

The proposed ETF aims to provide professional investors with direct exposure to spot ether. Currently, ether futures listed on CME represent one of the few avenues for regulated U.S. investors and funds to invest in Ethereum’s potential growth. Bloomberg Intelligence analyst James Seyffart remarked that the decision to delay was widely anticipated.

“It was 100% expected, and further delays are likely to occur in the coming months,” Seyffart commented. “The critical date for spot #ethereum ETFs right now is May 23, which is @vaneck_us‘s final deadline date.”

Earlier in January, the SEC also deferred a decision on Grayscale Investments’ application to convert its Ethereum trust product (ETHE) into an ETF. Additionally, a decision on BlackRock’s application for an ether ETF was delayed.

In anticipation of potential ETF approvals in May, major financial institutions anticipate a surge in ether’s value, with forecasts suggesting a potential rise of up to 70% in the coming months.

“Leading up to the anticipated approval date on May 23, we anticipate ETH prices to closely follow, or even surpass, bitcoin (BTC) during the same period,” noted a statement from Standard Chartered Bank in January.

Sources:coindesk

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.

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