The Securities and Exchange Commission (SEC) has postponed its decision on the Invesco Galaxy Ethereum ETF application until February 6, 2024. This delay follows the Cboe BZX Exchange's submission of a proposed rule change regarding the listing and trading of shares for the Invesco Galaxy Ethereum ETF. The SEC has initiated a 45-day action period following the proposal's publication for public comment on November 8, 2023.
This extension is part of the SEC's balanced approach to regulation, aiming to foster innovation while ensuring investor protection. The decision, crucial for the crypto community, will either approve or deny the ETF application. This development comes amid similar delays for other Ethereum ETFs, including Grayscale's product, with a decision deadline set for January 25, 2024. The extended review period reflects the SEC's cautious stance on crypto-based ETFs, as demonstrated by the delay in BlackRock's Ethereum ETF application and others like ARK Invest and 21 Shares' spot Ethereum ETF filed in September
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.