According to PANews, the U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the Invesco Galaxy Ethereum Spot ETF until July 5, 2024. The SEC stated in a document released on Monday that it believes it is appropriate to designate a longer period for issuing an order approving or disapproving the proposed rule change, in order to have sufficient time to consider the proposed rule change and the issues raised therein.
Over the past few weeks, the SEC has also postponed decisions on other Ethereum Spot ETFs, including those from Grayscale, Franklin Templeton, VanEck, and BlackRock. The SEC's decision to delay its ruling is seen as a move to ensure thorough consideration of the proposed changes and the questions they raise. The delay also affects other firms awaiting decisions on their Ethereum Spot ETFs.