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The US Securities and Exchange Commission has delayed the application of Ether spot ETF filed by leading firms.
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Most recently, Invesco and Galaxy Digital filed a collective application to the US regulators.
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Ethereum price grew over 2.50% in the past few hours, with a 2.36% spike in market capitalization and 10.11% in the trading volume.
The recent delay of the US Securities and Exchange Commission (SEC) on the joint application for spot Ether, the application was collectively filed by Invesco and crypto company Galaxy Digital.
The proposal aims to enable professional investors to gain exposure to spot ether. Currently, Ether futures listed on CME are one of the only ways for regulated US investors and funds to bet on the growth of Ethereum.
As per market analysts, news of the Ether spot ETF will directly and indirectly influence Ethereum price similar to the days running up to the spot BTC ETF.
James Seyffart, an analyst a
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