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The US Securities and Exchange Commission (SEC) has delayed its review of the Invesco Galaxy ethereum (eth) spot ETF.
Setting a new deadline of February 6, the second has rejected calls for a spot eth ETF that would allow Cboe BZX Exchange to list and trade shares of the Invesco Galaxy ethereum ETF.
“The 45th day after publication of the notice for this proposed rule change is December 23, 2023. The Commission is extending this 45-day period.”
SECOND
In September, asset managers Invesco and Galaxy Digital filed a joint SEC filing to launch an ethereum-based ETF. The tool will reflect the spot price of the second largest cryptocurrency by capitalization. eth will be stored by a separate custodian, which has not yet been named. The SEC was supposed to decide on the request by December 23.
In addition to Invesco, last week the Commission announced that it will not have time to consider Grayscale's application to launch eth spot ETFs until the end of 2023. The delay is due to the lack of time needed to conduct a comprehensive and in-depth study . analysis of the launch of ethereum spot ETF.
SEC Chairman Gary Gensler previously said the lengthy approval processes are due to the thoroughness of risk assessments related to the U.S. financial system.
