The Securities and Exchange Commission has postponed the timeline for a decision on whether to approve the proposed Invesco Galaxy Ethereum ETF.
The agency had previously postponed a decision on the fund until December, and announced on Tuesday that it was “beginning the process.”
“Given the legal and policy issues raised by the proposed rule changes, initiating litigation is appropriate at this time,” the SEC said. filing.
The agency has extended deadlines for other Spot Ethereum ETF proposals. grayscale Last month’s investment. On Tuesday, authorities asked similar questions of Grayscale. Ethereum’s proof-of-stake mechanism and “concentration of control and influence by a small number of individuals or entities” could raise unique concerns that the fund could be susceptible to fraud and manipulation.
According to the SEC, comments on the Invesco Galaxy Ethereum ETF must be submitted within 21 days and the rebuttal period will last for 35 days.
Spot Ethereum ETF
It is unclear if and when the agency will approve the Spot Ethereum ETF.investment bank TD Cowen Some say it is likely to be approved by the end of 2025 or early 2026, while others believe it could be approved by the SEC. approve By May 23rd.
Other analysts are skeptical The authorities are expected to approve the Spot Ethereum ETF in the near future.
SEC Chairman Gary Gensler said the SEC’s move to approve several spot Bitcoin ETFs last month was a no-brainer. limited It simply refers to the cryptocurrency and “should not be construed as anything else.”
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