The SEC has postponed its opinion on the Invesco Galaxy Ethereum ETF until July 5, 2024. The decision postponement allows the agency additional time to analyze the ETF proposal and related issues. Previously, the SEC delayed decisions on Invesco and other applicants’ spot Ethereum ETFs, including Grayscale, Franklin Templeton, VanEck, and BlackRock.
While the delay might be ascribed to the SEC’s cautious approach to bitcoin ETFs, regulatory uncertainty still stalks the sector. Despite the adoption of a spot Bitcoin ETF earlier this year, concerns over the classification and regulation of Ether and other cryptocurrency assets persist.
SEC tightens verification for Franklin Templeton’s ETF
SEC has already stepped up regulatory verification of Franklin Templeton’s spot Ethereum ETF, extending the deadline to June 10. Analysts are keeping an eye out for decisions on spot Ether ETFs in May, although authorities may reject them due to Ether’s security classification, complicating approval processes.
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