SEC Delays Decision for Invesco Galaxy
SEC postpones verdict on Invesco Galaxy Spot ETH ETF to July
The U.S. Securities and Exchange Commission (SEC) has announced a delay in making a decision on the proposed Ethereum exchange-traded fund (ETF) from Invesco Galaxy, pushing the next deadline to July 5, 2024. This decision also affects similar applications from BlackRock, Fidelity, and others.
In a filing submitted on Monday, the SEC stated that it needs more time to consider the proposed rule change and related issues. The agency emphasized the need for an extended period to carefully evaluate the ETF proposal.
"The Commission believes 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" - said the SEC.
This latest delay comes in the context of similar actions taken regarding applications from all eight potential Ether ETF issuers, including prominent names such as BlackRock, Fidelity, Franklin Templeton, Hashdex...
