{"id":10483,"date":"2024-02-07T10:22:28","date_gmt":"2024-02-07T08:22:28","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-postpones-decision-on-invesco-and-galaxys-spot-ethereum-etf\/"},"modified":"2024-02-07T10:22:28","modified_gmt":"2024-02-07T08:22:28","slug":"sec-postpones-decision-on-invesco-and-galaxys-spot-ethereum-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-postpones-decision-on-invesco-and-galaxys-spot-ethereum-etf\/","title":{"rendered":"SEC Postpones Decision on Invesco and Galaxy&#8217;s Spot Ethereum ETF"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2024\/34-99479.pdf\">delayed<\/a> its decision on the application for a spot Ethereum ETF by Invesco and Galaxy. <\/p>\n<p>The agency had previously postponed the review date for several funds. This time, the SEC also announced the &#8220;initiation of proceedings&#8221; to gather additional public information regarding the listing of investment products.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The initiation of proceedings is currently appropriate in view of the legal and policy issues raised by the proposed rule change. [\u2026] This does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,&#8221; the SEC stated. <\/p>\n<\/blockquote>\n<p>According to the documents, comments on the Ethereum ETF from Invesco and Galaxy must be submitted within 21 days, and the rebuttal period will last 35 days. <\/p>\n<p>Bloomberg analyst James Seyffart remarked that the regulator&#8217;s decision was &#8220;100% expected.&#8221; <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">SEC just delayed <a href=\"https:\/\/twitter.com\/InvescoUS?ref_src=twsrc%5Etfw\">@InvescoUS<\/a> &#038; <a href=\"https:\/\/twitter.com\/galaxyhq?ref_src=twsrc%5Etfw\">@galaxyhq<\/a>&#8216;s <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> ETF. 100% expected and more delays will continue to happen in coming months. <\/p>\n<p>The only date that matters for spot <a href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#ethereum<\/a> ETFs at this time is May 23rd. Which is <a href=\"https:\/\/twitter.com\/vaneck_us?ref_src=twsrc%5Etfw\">@vaneck_us<\/a>&#8216;s final deadline date <a href=\"https:\/\/t.co\/gkVZL2QuPK\">pic.twitter.com\/gkVZL2QuPK<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1754941423411949596?ref_src=twsrc%5Etfw\">February 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The only date that matters for spot ETH ETFs at this time is May 23rd. This is the final deadline for VanEck&#8217;s application,&#8221; the expert clarified. <\/p>\n<\/blockquote>\n<p>In the past 24 hours, the second-largest cryptocurrency by market capitalization has risen by 2.2%, according to <a href=\"https:\/\/www.coingecko.com\/ru\/%D0%9A%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B\/%D1%8D%D1%84%D0%B8%D1%80%D0%B8%D1%83%D0%BC\">CoinGecko<\/a>. At the time of writing, its price stands at $2361.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/VdrMeZJh3bP5E5RCyYVEdiqWQEtxgl_t_9kvY48AN9YZARo7fZwxvEwc-tKY-U9_qficcFnfBVKFrkzpVMm25KX00-L6VTn1cV2ymzSvfWWZTbs5aD9tkcje7p2UR1LzEJBsOCfKLqnGWRRsTqZl3UQ\" alt=\"SEC \u043f\u0435\u0440\u0435\u043d\u0435\u0441\u043b\u0430 \u0440\u0435\u0448\u0435\u043d\u0438\u0435 \u043f\u043e \u0441\u043f\u043e\u0442\u043e\u0432\u043e\u043c\u0443 Ethereum-ETF \u043e\u0442 Invesco \u0438 Galaxy\"\/><figcaption class=\"wp-element-caption\">15-minute ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Back in November 2023, BlackRock submitted an application to the regulator for a spot Ethereum ETF.<\/p>\n<p>In the same month, CoinShares analysts noted asset managers&#8217; interest in Ethereum. <\/p>\n<p>Later, Standard Chartered predicted the approval of a spot ETH ETF in May and projected the asset&#8217;s growth to $4000 by that time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the application for a spot Ethereum ETF by Invesco and Galaxy. The agency had previously postponed the review date for several funds. This time, the SEC also announced the &#8220;initiation of proceedings&#8221; to gather additional public information regarding the listing of investment products. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,46,128],"class_list":["post-10483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-ethereum","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10483"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10483\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10482"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}