Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
SEC delays Invesco Galaxy spot ETH ETF, but May decisions are still expected

SEC delays Invesco Galaxy spot ETH ETF, but May decisions are still expected

Crypto SlateCrypto Slate2024/02/06 23:30
By:Mike Dalton

The agency previously delayed BlackRock, Fidelity, and Grayscale proposals.

The U.S. Securities and Exchange Commission (SEC) extended the decision period for Invesco and Galaxy’s spot Ethereum ETF on Feb. 6 .

The agency’s announcement specifically concerns a proposed rule change from Cboe BZX that would allow it to list and trade shares of the fund.

The SEC said that the proposed rule change was published for comment in the Federal Register on Nov. 8, 2023. The agency then designated a longer period for approval on Dec. 13, 2023, extending the period during which it could approve, disapprove, or institute proceedings around approval or disapproval.

The agency’s latest filing indicates that it has chosen the last option, thereby instituting proceedings for around approval or disapproval. The proceedings request that commenters address fraud prevention, market manipulation, and investor protections. These issues are at play for all other pending Ethereum ETF proposals and were also key to the approval of spot Bitcoin ETFs in January.

The SEC did not provide exact deadlines today. It said that comments should be submitted within 21 days of publication in the Federal Register, and that rebuttal comments should be submitted within 35 days of publication in the same.

SEC expected to decide on ETH ETFs by May

The extension does not affect broader approval timelines for ETH ETFs. Bloomberg ETF analyst James Seyffart acknowledged the delay, writing :

“[The] SEC just delayed [Invesco and Galaxy’s] Ethereum ETF. [This was] 100% expected and more delays will continue to happen in coming months. The only date that matters for spot Ethereum ETFs at this time is May 23rd. Which is VanEck’s final deadline date.”

It is likely that the SEC will decide on multiple similar proposals at the same time, including those that have later deadlines than VanEck’s proposal.

The SEC has delayed various other spot Ethereum ETFs in past weeks. The agency extended the decision period on applications from Fidelity on Jan. 18 , BlackRock on Jan. 24 , and Grayscale on Jan. 25. Once again, those delays do not affect the broader May decision deadline described by Seyffart.

It is unclear whether the SEC will choose to approve a spot Ethereum ETF. One Polymarket prediction market currently suggests 43% odds of approval by May. Seyffart has suggested a 60% chance of approval by May, while one JP Morgan member has suggested a 50% chance of approval. A TD Cowen research group believes that a spot Ethereum ETF will not be approved in May.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

From Tenant to Broker: The Crypto Business in Trump Tower

Living below the seat of power, let the elevator of wealth go straight to your own office.

深潮2025/09/10 03:30
From Tenant to Broker: The Crypto Business in Trump Tower

"Seizing Power" from the Federal Reserve: US Treasury Secretary Calls for Comprehensive Review of the Fed

Besant's opinion piece appears to indicate that the Trump administration's criticism of the Federal Reserve is escalating—not only demanding interest rate cuts, but also beginning to question the Fed's overall operational model and its foundation as an independent institution.

深潮2025/09/10 03:29

Breaking Down the Walled Garden: How Does Ondo Global Market Bring 100+ US Stocks On-Chain?

Make financial markets truly globalized, democratized, and programmable.

深潮2025/09/10 03:07
Breaking Down the Walled Garden: How Does Ondo Global Market Bring 100+ US Stocks On-Chain?