Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » SEC Delays Invesco and Galaxy Digital’s Ethereum ETF Application

SEC Delays Invesco and Galaxy Digital’s Ethereum ETF Application

Hania by Hania
February 8, 2024
in Ethereum News
Reading Time: 2 mins read
A A
0
Coinbase Urges SEC for Approval of Grayscale's Ethereum ETF
Share on FacebookShare on Twitter
ADVERTISEMENT

Amidst the evolving landscape of cryptocurrency investment opportunities, the U.S. Securities and Exchange Commission (SEC) has opted to defer its verdict on a proposed Ethereum exchange-traded fund (ETF) jointly submitted by Invesco and Galaxy Digital. This delay marks another significant development in the regulatory journey towards establishing accessible avenues for mainstream investors to engage with digital assets.

Postponement of Regulatory Decision

In a recent SEC filing, it was disclosed that the regulatory body had postponed its decision on the Ethereum ETF proposal put forth by Invesco and Galaxy Digital. The joint application, submitted in September, seeks to introduce an investment vehicle allowing investors to gain exposure to Ethereum, the second-largest cryptocurrency, without the necessity of directly purchasing and safeguarding the digital assets themselves.

SEC just delayed @InvescoUS & @galaxyhq's #Ethereum ETF. 100% expected and more delays will continue to happen in coming months.

The only date that matters for spot #ethereum ETFs at this time is May 23rd. Which is @vaneck_us's final deadline date pic.twitter.com/gkVZL2QuPK

— James Seyffart (@JSeyff) February 6, 2024

Rising Anticipation for Ethereum ETF Approval

Despite the delay, industry analysts, including those from British bank Standard Chartered, remain optimistic about the eventual approval of an Ethereum ETF. Standard Chartered anticipates that such investment vehicles could receive regulatory approval as early as May, citing the SEC’s previous acknowledgement that Ethereum does not qualify as a security. This contrasts with the SEC’s stringent stance on unregulated securities offered by certain cryptocurrency companies.

You May AlsoLike

Michigan Pension Fund

Michigan Pension Fund Expands Crypto Holdings with Ether ETFs

November 4, 2024
Ethereum Price Crash: Will ETH Plummet to $2,000 Amid 2024’s First Death Cross?

Ethereum Price Crash: Will ETH Plummet to $2,000 Amid 2024’s First Death Cross?

September 3, 2024

Also Read: Ethereum ETF Approvals Postponed: SEC’s Decision Deferred To Late May 2024

SEC Delays Invesco and Galaxy Digital's Ethereum ETF Application

Historical Context and Market Implications

The SEC’s decision to defer judgment on the Ethereum ETF proposal follows a pattern of cautious deliberation, with similar delays witnessed in previous high-profile ETF applications, notably from industry giants like BlackRock and Fidelity.

For traditional investors seeking exposure to the cryptocurrency market, ETFs provide a convenient avenue, simplifying the complexities associated with digital asset ownership. With the responsibility of custody entrusted to the ETF provider, investors can participate in the market through shares that mirror the underlying asset’s performance.

Navigating the Regulatory Landscape

The SEC’s recent approval of multiple Bitcoin ETFs signals a shifting stance towards embracing cryptocurrency investment products. While the regulatory landscape remains dynamic and subject to ongoing developments, the potential approval of an Ethereum ETF would further catalyze mainstream adoption and investor participation in the digital asset space.

As stakeholders await the SEC’s decision, market observers continue to monitor the evolving regulatory framework, anticipating its impact on the broader cryptocurrency market and investment landscape.

Tags: ETF NewsEthereum
Share76Tweet48
ADVERTISEMENT
Previous Post

Bitsonic Executives Sentenced: South Korean Crypto Exchange Faces Legal Consequences

Next Post

Bitcoin Reaches $48K: Solana’s Troubles and MicroStrategy’s Bitcoin Purchase | Weekly Review

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Michigan Pension Fund
Ethereum News

Michigan Pension Fund Expands Crypto Holdings with Ether ETFs

November 4, 2024
Ethereum Price Crash: Will ETH Plummet to $2,000 Amid 2024’s First Death Cross?
Ethereum News

Ethereum Price Crash: Will ETH Plummet to $2,000 Amid 2024’s First Death Cross?

September 3, 2024
How to Develop Smart Contracts on Ethereum: Step-by-Step Guide
Beginner Guides

How to Develop Smart Contracts on Ethereum: Step-by-Step Guide

August 29, 2024
US SEC Introduces New Reporting Rules for ETFs: Impact on Bitcoin and Ethereum Explored
Bitcoin News

US SEC Introduces New Reporting Rules for ETFs: Impact on Bitcoin and Ethereum Explored

August 29, 2024
Top Crypto ETFs of 2024: Best Investment Opportunities for Smart Investors
Bitcoin News

Top Crypto ETFs of 2024: Best Investment Opportunities for Smart Investors

August 22, 2024
MetaMask Debit Card Now Available: Spend Crypto Like Cash
Crypto Wallets

MetaMask Debit Card Now Available: Spend Crypto Like Cash

August 14, 2024
Next Post
Bitcoin Reaches $48K: Solana’s Troubles and MicroStrategy’s Bitcoin Purchase | Weekly Review

Bitcoin Reaches $48K: Solana's Troubles and MicroStrategy's Bitcoin Purchase | Weekly Review

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    197 shares
    Share 79 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • $BC Token Launch and 1 Billion $BC Airdrop: A New Era for BC.Game

    194 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.