SEC Delays Decision on Invesco Galaxy Ethereum ETF
The U.S. Securities and Exchange Commission (SEC) has announced a postponement in its decision-making process regarding the Invesco Galaxy Ethereum exchange-traded fund (ETF).
In a filing released on Monday, the regulatory agency extended the timeline for its determination, setting the next deadline for July 5, 2024, to either approve or disapprove the proposed spot ether ETF.
“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” stated the agency.
This recent delay follows previous postponements by the SEC regarding the Invesco Galaxy Ethereum ETF, which had prompted a call for public comments back in February.
Additionally, the agency has similarly extended deadlines for other spot Ethereum ETF proposals, including those from Grayscale, Franklin Templeton, VanEck, and BlackRock, in recent weeks.
Optimism surrounding the likelihood of SEC approval for such products has waned in recent months. Bloomberg ETF analyst Eric Balchunas, for instance, has revised down his estimation of the probability of a spot Ethereum ETF approval by late May, dropping it from approximately 70% to 25%.
For more Web3 news, check out the XGA newsfeed.
![](https://academy.xga.gg/wp-content/uploads/2024/07/THUMBNAIL-6-300x169.jpg)
Philippines to Launch Digital Peso by 2029
Philippines to Launch Digital Peso by 2029 The Bangko Sentral ng Pilipinas (BSP) is set to introduce its wholesale central bank digital currency (CBDC) by
![](https://academy.xga.gg/wp-content/uploads/2024/07/THUMBNAIL-7-300x169.jpg)
Igloo, Inc. Secures $11 Million to Launch Consumer-Focused Blockchain “Abstract”
Igloo, Inc. Secures $11 Million to Launch Consumer-Focused Blockchain “Abstract” Pudgy Penguins’ parent company, Igloo, Inc., has secured over $11 million in funding to develop
![](https://academy.xga.gg/wp-content/uploads/2024/07/SoMon_Banner_1721363285oRJYbcEXhW-300x180.jpg)
SoMon Becomes the Fastest-Growing Social App Sees 300,000 Transactions in Two Weeks
SoMon Becomes the Fastest-Growing Social App Sees 300,000 Transactions in Two Weeks SoMon, a decentralized Web3 forum, has emerged as the hottest name in social
![](https://academy.xga.gg/wp-content/uploads/2024/07/GSuzZROWsAAcPEl-300x300.jpeg)
APUBCC Hosts Malaysia’s Largest Student-Run Blockchain Hackathon
APUBCC Hosts Malaysia’s Largest Student-Run Blockchain Hackathon The Asia Pacific University Blockchain & Cryptocurrency Club (APUBCC) is gearing up to host the dEVMatch Hackathon 2024,
![](https://academy.xga.gg/wp-content/uploads/2024/07/0qB2eV1yW2zngZ8A3-300x169.png)
Saakuru Labs Surpasses 5 Million Daily Transactions, Secures Spot Among Top Blockchain Networks
Saakuru Labs Surpasses 5 Million Daily Transactions, Secures Spot Among Top Blockchain Networks Saakuru Labs, an innovator in Web3 gaming and infrastructure, has achieved a
![](https://academy.xga.gg/wp-content/uploads/2024/07/Inaugural_malaysia_blockchain_week_MYBW_kick_kuala_lumpur_IN_july-300x169.jpg)
XGA Stories from the Community: Malaysia to Host Inaugural Blockchain Week in July 2024
XGA Stories from the Community: Malaysia to Host Inaugural Blockchain Week in July 2024 Malaysia is launching its first-ever Malaysia Blockchain Week (MYBW) in July