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The U.S. Securities and Exchange Commission has <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-100015.pdf" rel="noopener noreferrer nofollow">moved</a> to delay its decision on the Invesco Galaxy spot Ethereum ETF proposal, according to a recent filing.&nbsp;
The regulator has extended the period for approving or disapproving the ETF proposal in question for an additional 60 days.&nbsp;
Last month, the SEC also punted its decision on spot Ethereum ETF proposals by Franklin Templeton and Grayscale.
According to a recent report by Reuters, which cites industry insiders, the SEC is predicted to deny Ethereum ETFs proposed by VanEck and ARK later this month.&nbsp;
Industry experts have predicted that the SEC was going to deny these ETFs due to the lack of engagement, which was not the case on the cusp of <a href="https://u.today/is-bitcoin-etf-decision-going-to-be-delayed-key-expert-weighs-in-on-rumors" rel="noopener noreferrer nofollow">Bitcoin ETF approval</a>.&nbsp;
Spot Ethereum ETFs are likely to be rejected for a mechanical reason, according to industry analysts. Bitwise's Matt Hougan predicted that the SEC would say that it wanted to see more data.&nbsp;
It is worth noting that the SEC is currently in the middle of a legal battle with key Ethereum backer Consensys. In April, Consensys took the regulator to court over its decision to "wrongly" label the leading altcoin as a security.
However, BlackRock CEO Larry Fink said that it was still possible to launch a spot Ethereum ETF even if the underlying cryptocurrency were to be classified as an unregistered security.&nbsp;
It took the SEC more than a decade to finally approve spot Bitcoin ETFs earlier this year. The ETFs ended up being a big success, but it seems like the regulator is not ready to approve Ethereum ETFs.&nbsp;

Another Ethereum ETF Decision Delayed by SEC

U_Today

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