The U.S. Securities and Exchange Commission (SEC) has announced an extension of the review period for a rule change application that would allow Cboe BZX to trade shares of the Invesco Galaxy Ethereum ETF. This ETF, offering direct access to Ethereum, is among several under SEC review, which has not previously approved ETFs with direct access to Bitcoin.

Applicants for spot crypto-ETFs also include BlackRock, Hashdex, ARK 21Shares, VanEck, and Fidelity. According to the SEC, representatives from these companies have met with the commission to discuss their ETF proposals.

Invesco is not the only asset manager facing delays from the SEC. A week ago, the SEC extended by 45 days the review of Grayscale Ethereum Trust's application for a spot ETF, moving the deadline from December 6, 2023, to January 25, 2024.

The crypto industry is closely monitoring the SEC's decisions on Bitcoin ETF applications from companies like BlackRock, Fidelity, and WisdomTree. There are only four weeks left until the January deadline when the SEC is expected to make a decision.

Cryptocurrency advocates are hopeful for a positive outcome on these applications, which could mark the first approval of a spot Bitcoin ETF in the U.S. Meanwhile, the SEC has nearly approved a futures Bitcoin ETF from Hashdex, which is different from a spot ETF. Bitwise's spot Bitcoin ETF has already appeared on the DTCC website, part of the process for launching an ETF. The DTCC is responsible for clearing transactions on NASDAQ and includes both active and potential ETFs in its listing.