SEC Delays Invesco/Galaxy Ethereum Spot ETF! Bloomberg Analyst Reiterates: May 23rd is the Key

The U.S. Securities and Exchange Commission (SEC) has decided to delay the review deadline for the Invesco/Galaxy Digital Ethereum spot ETF application, according to Bloomberg analyst James Seyffart. He stated that this was exactly as he expected, and the key date for Ethereum spot ETF applications is May 23rd, as it is the final review date for the VanEck application.
(Previous summary:
Standard Chartered Bank: Ethereum spot ETF to be approved by SEC on May 23rd, ETH surges to $4,000
)
(Background information:
SEC plans to “forcefully reject” Ethereum spot ETF? Insider: Gensler still considers ETH as a security
)
Following the SEC’s approval of the Bitcoin spot ETF trading for the first time last month, the market has been closely watching when the Ethereum spot ETF can also be approved for listing. On the 6th, the SEC issued another notice, deciding to postpone the review of the Ethereum spot ETF application filed jointly by Invesco and Galaxy Digital.
The notice stated that the SEC intends to initiate additional review procedures to evaluate whether to approve or reject the proposed rule amendments. Approving the Ethereum spot ETF may give rise to legal and policy issues, so initiating additional review procedures is appropriate.
The SEC can extend the review period for up to 240 days to make a final decision on the application. In the notice, the SEC seeks public input on the application, and commentators have 21 days to submit written materials, views, and arguments. The applicants will then have 35 days to respond.
Status of Ethereum spot ETF applications
Currently, there have been 8 Ethereum spot ETF-related applications from BlackRock, Hashdex, ARk 21Shares, VanEck, Fidelity, and others. In the past few weeks, the SEC has successively delayed the decision deadlines for Ethereum spot ETF applications from Fidelity, BlackRock, Grayscale, and others.
Bloomberg analyst James Seyffart
said
that the SEC’s decision to delay the Invesco/Galaxy Ethereum spot ETF was 100% as expected, and there will be more delays in the coming months. Currently, the only important date for Ethereum spot ETF is May 23rd, as it is the final approval deadline for the VanEck application.
Further reading:
SEC questions Ethereum’s “centralization in PoS”! Grayscale ETHE’s transition to spot ETF further delayed


Schedule of 8 Ethereum spot ETF applications. Image source: Bloomberg
Standard Chartered is optimistic about approval on May 23rd
Previously, Geoffrey Kendrick, Head of Foreign Exchange at Standard Chartered Bank, released a report last month
predicting
that the Ethereum spot ETF will finally be approved for listing on May 23rd, as it is the final deadline for the first batch of related ETF applications, and the ETH price is expected to reach $4,000 by then.
James Seyffart is also optimistic about the approval of the Ethereum spot ETF. He
stated
last month that when the SEC approved 9 Ethereum-related futures ETFs last year, it “implicitly” recognized Ethereum as a commodity, which means that the first Ethereum spot ETF is expected to be listed this year.
However, there may still be variables. Fox Business reporter Eleanor Terrett
reported
earlier that the SEC may not pass the Ethereum spot ETF within this year as some experts expected. An insider revealed that the SEC’s current position is to “forcefully reject,” but there is “some internal resistance” to this idea.
SEC Chairman Gary Gensler
reiterated
recently that the SEC views Bitcoin as a non-securities commodity, which allowed the approval of Bitcoin spot ETFs. It should not be seen as support for other cryptocurrencies.
Further reading:
SEC delays BlackRock’s “Ethereum spot ETF” review for the second time, Gary Gensler: Passing BTC does not mean a comprehensive approval


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