News👀
The approval process for an Ether ETF faces a delay as the Securities and Exchange Commission (SEC) postpones its decision on the application.
The SEC delayed a decision on a proposed spot Ether (ETH) exchange-traded fund (ETF) from Invesco and Galaxy Digital. The ETF would offer professional investors direct exposure to spot Ether, supplementing the current use of Ether futures on CME for U.S. investors.
Bloomberg Intelligence analyst James Seyffart anticipated the delay, expecting further postponements. May 23 is a pivotal date for spot Ethereum ETF👀s, marking VanEck's final deadline.
Previously, the SEC postponed Grayscale Investments' Ethereum trust product (ETHE) conversion into an ETF and BlackRock's ether ETF application.
Financial institutions predict a potential 70% Ether surge as ETF approvals loom in May. Ether gained 2.2% in the last 24 hours.
