Investments

The commission had until Dec. 23 to decide or punt on approval or disapproval for the spot crypto investment vehicle.

The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or disapprove a spot Ether (ETH) exchange-traded fund, or ETF, proposed by Invesco and Galaxy Digital.

In a Dec. 13 notice, the SEC said it would designate a longer period on whether to approve or disapprove a proposed rule change that would allow the Cboe BZX Exchange to list and trade shares of the Invesco Galaxy Ethereum ETF. The proposed spot crypto investment vehicle is one of many being considered by the commission, which to date has never approved an ETF with direct exposure to Bitcoin (BTC) or other cryptocurrencies.

“The 45th day after publication of the notice for this proposed rule change is December 23, 2023. The Commission is extending this 45-day time period,” said the Dec. 13 notice. “[T]he Commission [...] designates February 6, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”

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