According to the latest filing, SEC, Invesco Galaxy spot Ethereum ETF took steps to postpone its decision on the proposal. The regulator has extended the deadline to approve or reject the ETF proposal for another 60 days.
Last month, the SEC also postponed its decision on spot Ethereum ETF offerings from Franklin Templeton and Grayscale. The SEC is expected to reject Ethereum ETFs proposed by VanEck and ARK later this month, according to a recent report from Reuters, citing industry insiders.
As Koinfinans.com reported, industry experts predicted that the SEC would reject these ETFs due to lack of participation, but this did not happen at the height of Bitcoin ETF approval.
According to industry analysts, it seems likely that Spot Ethereum ETFs will be rejected for a mechanical reason. Bitwise’s Matt Hougan stated that the SEC will request more data.
It’s also worth noting that the SEC is currently engaged in a legal battle with major Ethereum supporter ConsenSys. In April, ConsenSys, leading altcoinHe took the regulator to court over its decision to “erroneously” label .
However, BlackRock CEO Larry Fink said cryptocurrency He stated that it is still possible to launch a spot Ethereum ETF even if the unit is classified as an unregistered security. It took more than a decade for the SEC to finally approve spot Bitcoin ETFs earlier this year. ETFs have been a huge success, but it seems the regulator is not ready to approve Ethereum ETFs.
