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SEC delays decision on ether ETF request again
The SEC expressed the need for an extended evaluation period to review the proposed rule change regarding the ether ETF.
Headline
The SEC expressed the need for an extended evaluation period to review the proposed rule change regarding the ether ETF.
Context
The U.S. Securities and Exchange Commission has postponed its decision on Invesco’s request to establish a spot ether ETF. The government established a new deadline of July 5, 2024, to either approve or disapprove the proposed spot ether ETF, as stated in a document released on Monday.
Evidence
Pending intelligence enrichment.
Analysis
SEC stated in the file : “The Commission finds 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 therein.” Also read: SEC faces allegation about Ethereum regulation In early February, the SEC had already postponed making decisions on the Invesco Galaxy Ethereum ETF. This delay came after the commission sought public input and deliberated on various aspects of the proposed ETF. The SEC has delayed decisions on applications from eight prospective issuers of ether ETFs, which include BlackRock, Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares, over the past few months.
Key Points
- The SEC has postponed its decision again on Invesco’s request to establish an ether ETF focused on the spot market.
- The government has set a new deadline of July 5, 2024, for the approval or disapproval of the proposed spot ether ETF, as indicated in a document released on Monday.
- The SEC, in a recent filing, expressed the need for an extended evaluation period to thoroughly review the proposed rule change and related issues before issuing an order.
Actions
Pending intelligence enrichment.
