The U.S. Securities and Exchange Commission approved spot Bitcoin exchange-traded funds for the first time on Jan. 10.
The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove a spot Ether (ETH) exchange-traded fund, or ETF, proposed by Invesco and Galaxy Digital.
In a Feb. 6 notice, the SEC said it would institute proceedings to determine whether to approve or disapprove a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. Opening the proposed investment vehicle to public comment will push the deadline for a decision by an additional 35 days upon publication in the Federal Register.
The SEC can delay the Invesco Galaxy spot Ether ETF for up to 240 days before reaching a final decision. The asset manager filed with the commission in October 2023 — with publication in the Federal Register in November — giving the SEC until July 2024 to approve or deny the investment vehicle.
