SEC Postpones Expected Ethereum Decision: Eyes Turned to Important Date! - Coin Newsletter

The U.S. Securities and Exchange Commission (SEC) has delayed the application for a spot Ethereum ETF by Invesco and Galaxy.

The SEC has decided to postpone another spot Ethereum exchange-traded fund (ETF) application. In a statement made by the institution on 6 February, the decision on the spot Ethereum ETF jointly offered by cryptocurrency-focused investment companies Invesco and Galaxy has been postponed to a later date.

The SEC, which stated that more time is needed to investigate the details of the file as the reason for this postponement decision, took an attitude consistent with its other postponements.

The SEC stated that comments for the Invesco Galaxy Ethereum ETF must be submitted within 21 days and there is an 35-day objection period.

Bloomberg senior ETF analyst James Seyffart, who made a statement on the subject, emphasized that this postponement decision from the SEC is 100% in line with their expectations and pointed to May 23 again:

SEC recently delayed Invesco and Galaxy's request for a spot Ethereum ETF. This was definitely something I was waiting for. We will see more postponements in the coming period. The only critical date for now is May 23.