tl;dr
Investment firm Invesco Galaxy has missed the deadline to file its amended S-1 form for a Spot Ethereum ETF, while other major players, including VanEck and Bitwise, have submitted their amendments on time to the SEC. This development raises questions about potential delays in the approval process a...
Invesco Galaxy misses S-1 deadline for Spot Ethereum ETF, raising concerns about potential approval delay
VanEck and Bitwise make progress with amended S-1 filings, nearing final approval for Ethereum ETFs
Grayscale announces record date for Mini Ethereum Trust, signaling expansion of crypto investment products portfolio
Invesco Galaxy's delay could lead to regulatory setbacks, emphasizing the importance of timely compliance in the competitive crypto investment landscape
Investment firm Invesco Galaxy has missed the deadline to file its amended S-1 form for a Spot Ethereum ETF, while other major players, including VanEck and Bitwise, have submitted their amendments on time to the SEC. This development raises questions about potential delays in the approval process and impacts Invesco Galaxy's competitive standing in the race to launch a spot Ethereum ETF. The market's response has been swift, with speculation about the broader Ethereum ETF approval timeline and potential adjustments in fee structures. Invesco Galaxy's next steps are crucial, and filing the amended S-1 as soon as possible is imperative to stay competitive and maintain investor confidence.
In a surprising turn of events, investment firm Invesco Galaxy has missed the July 8 deadline to file its amended S-1 form for a Spot Ethereum ETF. This development comes as other major players in the industry, including VanEck, Bitwise, BlackRock, Fidelity, and Franklin Templeton, successfully submitted their amendments to the United States Securities and Exchange Commission (SEC) on time.
Earlier, last month, the SEC had requested these amendments after returning the initial S-1 registrations from Spot Ethereum ETF filers with “a few light comments.” Hence, filers were expected to address these comments and resubmit their documents by the given deadline.
Nate Geraci, President of ETF Store, noted the absence of Invesco Galaxy’s filing. He commented on X (formerly known as Twitter), “Only amendment I didn’t see today was Invesco Galaxy eth ETF… Perhaps will post to SEC site in morning. Otherwise, all other issuers are in & now we wait on SEC.” However, he still expressed optimism toward the anticipated Spit Ethereum ETF launch next week.
Moreover, Grayscale setting the date for its Mini Ethereum Trust, has also added to the optimism. On the flip side, this lapse by Invesco Galaxy raises questions about the potential delay in the approval process. With other firms like VanEck and Bitwise moving forward efficiently, any delay could impact Invesco Galaxy’s competitive standing in the race to launch a spot Ethereum ETF.
VanEck, for example, has already filed its amended S-1 and aims to trade under the “ETHV” ticker. According to industry experts, VanEck is nearing a final approval date. The SEC had previously approved the 19b-4 filings of eight potential issuers in May, with the final S-1 application expected to be approved by summer. SEC Chairman Gary Gensler has pointed to this timeline as firms finalize their investment vehicles.
Furthermore, VanEck has also unveiled a competitive fee of 0.20% for its Ether ETF, which has led investors to anticipate low fee from all issuers. Meanwhile, Bitwise filed its S-1 amendment last week, including a 6-month waiver of up to $500 million. This proactive approach demonstrates the firm’s readiness to capitalize on the market’s growing interest in Ethereum ETFs.
Moreover, Geraci remarked that institutions are “gearing up for a potential launch in a week or two.” Furthermore, Grayscale Investments has also made significant strides with the Mini Ethereum Trust distribution date. It announced July 18, 2024 as the record date for the initial creation and distribution of shares of the Grayscale Ethereum Mini Trust (ETH Trust). This move is expected to increase the value for existing shareholders of Grayscale Ethereum Trust (ETHE). Grayscale’s approach to expanding its crypto investment products portfolio could set a precedent for other firms in the industry.
In contrast, Invesco Galaxy’s delay could lead to regulatory setbacks. The SEC’s thorough review process, combined with Invesco Galaxy’s missed deadline, may push back their approval timeline. This situation underscores the importance of timely compliance with regulatory requirements in the highly competitive and fast-evolving crypto investment landscape.
The market’s response to these developments has been swift. Social media platforms are abuzz with speculation about the impact of Invesco Galaxy’s missed deadline on the broader Ethereum ETF approval timeline. Investors are eagerly awaiting
More about ASE Industrial Holding Co Ltd ADR
ASE Industrial Holding Co Ltd ADR Summary
Industry: Manufacturing - Semiconductors & Related Devices
Market Cap: $25.29 billion
Current Price: $23.90
52-Week Range: $5.20 - $23.90
Price/Earnings Ratio: 0.49
EPS: $271.43
Dividend Yield: 0.0541
Shares Outstanding: 583.83 million
Beta: 0.9
Volatility: -0.019
Performance: 0.015
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More about Enterprise Bancorp Inc
Enterprise Bancorp Inc,Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all of its operations through Enterprise Bank and Trust Company, commonly known as Enterprise Bank, and has reported 126 consecutive profitable quarters.
Industry: FINANCE
Sector: STATE COMMERCIAL BANKS
Market Cap: 285,237,000
P/E Ratio: 7.92
EPS: 0.93
ROE: 2.91%
Dividend Yield: 13.01%
Beta: 0.224
Shares Outstanding: 159,515,000
Next Earnings Date: None
Price Change (1yr): -21.6%
Price Change (YTD): -4.6%