The U.S. Securities and Exchange Commission (SEC) has extended the deadline for making a decision on Invesco and Galaxy’s Ethereum spot ETF on February 6th.
The SEC’s announcement specifically pertains to a proposed rule change from Cboe BZX, allowing them to list and trade shares of the ETF.
In the same announcement, the SEC raised similar questions to Invesco as it did with Grayscale, concerning whether Ethereum’s Proof-of-Stake mechanism and centralization could make the ETF vulnerable to fraud and manipulation. Invesco has 21 days to prepare responses and counterarguments within the following 35 days.
Since late last year, the SEC has postponed approval deadlines for Ethereum spot ETFs from Grayscale, Fidelity, and BlackRock. It’s still uncertain whether the U.S. securities regulator will approve an Ethereum spot ETF.
TD Cowen Investment Bank predicts an Ethereum spot ETF won’t appear before the end of 2025, while other experts believe the SEC will make a decision by May 23rd.
Bloomberg ETF analyst James Seyffart anticipates more news of the SEC rescheduling Ethereum ETF reviews until the final deadline.