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ETH ETF DELAYED

In a recent filing, the U.S. Securities and Exchange Commission (SEC) has announced a delay in the decision regarding a proposed spot Ether (ETH) exchange-traded fund (ETF) jointly submitted by Invesco and Galaxy Digital.

The proposed ETF aims to provide professional investors direct exposure to spot Ether, offering an alternative to the currently available Ether futures listed on CME. These futures represent one of the limited avenues for regulated U.S. investors and funds to participate in Ethereum’s potential growth.

Bloomberg Intelligence analyst James Seyffart noted that the postponement aligns with industry expectations. He emphasized that further delays are likely in the coming months, with May 23 being a crucial date, marking the final deadline for VanEck’s spot Ethereum ETF application.

This development follows the SEC’s previous delay in January, affecting Grayscale Investments’ application to convert its Ethereum trust product (ETHE) into an ETF. Additionally, the regulatory body deferred its decision on BlackRock’s application for an Ether ETF.

Financial experts anticipate a potential surge in Ether prices, possibly reaching up to a 70% increase in the coming months, as several ETF applications are anticipated to gain approval in May. Standard Chartered Bank, in a January note, suggested that ETH prices might closely track or even outperform Bitcoin (BTC) around the expected approval date on May 23.

As the SEC navigates the regulatory landscape for cryptocurrency-related financial products, Ether has demonstrated resilience and positive momentum, emerging as the leading gainer among major cryptocurrencies in the past 24 hours, with a notable 2.2% rise in value. Investors and enthusiasts eagerly await further developments in the regulatory journey of Ether ETFs and their potential impact on the broader cryptocurrency market.


BTW,do you know,there is a new Ethereum Virtual Machine compatible blockchain? The KRYZA Chain has just launched, the presale is ongoing! Allegedly better than Manta or Arbitrum…

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