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Post: Delay in Decision for Spot Ether ETF Proposed by Invesco and Galaxy Digital: U.S. SEC Takes Time to Evaluate Potential Listing and Trade of Ether ETF

Delay in Decision for Spot Ether ETF Proposed by Invesco and Galaxy Digital: U.S. SEC Takes Time to Evaluate Potential Listing and Trade of Ether ETF

Key Points:

  • The SEC has delayed its decision on whether to approve or disapprove a spot Ether exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital.
  • The SEC will institute proceedings to determine whether to approve or disapprove a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF.
  • Opening the proposed investment vehicle to public comment will extend the deadline for a decision by an additional 35 days upon publication in the Federal Register.
  • The SEC has the option to delay the Invesco Galaxy spot Ether ETF for up to 240 days before making a final decision.
  • If approved, the ETF would allow investors to gain exposure to Ether through a regulated and publicly-traded vehicle.

Delay in Decision for Spot Ether ETF Proposed by Invesco and Galaxy Digital:

The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision on approving or disapproving a spot Ether exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital. The SEC will institute proceedings to consider a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. By opening the proposal to public comment, the SEC has extended the decision deadline by an additional 35 days upon publication in the Federal Register. Ultimately, the SEC can delay the decision for up to 240 days before reaching a final conclusion. If approved, the ETF would provide investors with a regulated and publicly-traded vehicle to gain exposure to Ether.

Hot Take:

The delay in the decision for a spot Ether ETF indicates that the SEC is taking its time to carefully consider the implications of approving such an investment product. The SEC is known for its cautious approach to cryptocurrency-related financial products, and this delay is in line with that approach. It demonstrates the SEC’s desire to thoroughly evaluate the market and ensure investor protection before allowing public trading of Ether-based ETFs. While investors may be eager for a regulated and easy way to gain exposure to Ether, it is important to have proper oversight and safeguards in place to mitigate risks and protect the integrity of the market.

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