The U.S. Securities and Exchange Commission (SEC) announced on the 6th that it would postpone its decision on Invesco and Galaxy's Ethereum spot ETF.
Invesco and Galaxy submitted their ETF application on October 20th of last year, and the SEC had already postponed the related decision once on December 13th of last year.
Authorities can have a review deadline of up to 240 days, until July 5, for the application registered in the Federal Register in November of last year.
Regulators once again extended the decision deadline for the Invesco and Galaxy ETFs, announcing that there would be a 21-day deadline for submitting comments and a 35-day deadline for rebuttals.
Regarding the Ethereum spot ETF, the SEC asked questions about Ethereum's proof mechanism through staking and whether the fund is vulnerable to fraud and manipulation due to the control or influence concentrated in a small number of individuals and organizations.
Authorities raised similar questions last month while delaying a decision on the grayscale application.
“The delay in the Ethereum ETF decision was 100% expected, and we expect to see more postponements in the coming months,” said Bloomberg ETF analyst James Seipart. explained.
The US SEC approved the first Bitcoin spot ETF last month, but it is unclear whether it will also approve the Ethereum spot ETF.
Investment bank TD Cowen forecasts that approval is likely in late 2025 or early 2026, while other banks expect approval on May 23, the earliest final decision date.
Meanwhile, SEC Chairman Gary Gensler approved the Bitcoin spot ETF last month, emphasizing that "this is a decision limited to Bitcoin" and "it should not be interpreted to mean anything more than that."
