- The SEC has postponed its decision on the joint Invesco/Galaxy Digital spot Ethereum ETF application to March 2024.
- Expert James Seyffart called this an expected decision. He predicted more similar steps from the regulator in the future.
US Securities and Exchange Commission (SEC) postponed decision making on Invesco/Galaxy Digital spot Ethereum ETF. The deadline for this case will be July 2024.
In the resolution, the regulator stated the need to conduct a trial due to significant changes in current legislation that would entail the approval of spot Ethereum-ETFs.
Thus, the consideration of the joint application of the companies was postponed for another 35 days from the date of registration of the decision in the federal register. The next interim deadline for this case is March 12, 2024, the final deadline is July 20, 2024.
Bloomberg Intelligence analyst James Seyffart noted that the decision was “100% expected.” He predicted more similar actions from the SEC in the coming months.
The likelihood of Ethereum spot ETFs being approved remains uncertain. Standard Chartered Bank experts believe that this will happen in May 2024. In this case, it is likely that the SEC will focus on the deadline for the first applications.
Analysts at the investment bank TD Cowen already give a different time frame – the fourth quarter of 2025. In both cases, experts cited the unclear legal status of Ethereum among the main problems with the potential approval of a new class of products.