Based on information from industry experts, it seems uncertain that an Ethereum ETF will be available for trading by May.
Nate Geraci, the leader of the ETF Store, noted on Twitter that the SEC’s silence regarding this issue was surprising, as they had been more active during the approval process for Bitcoin ETCs.
At the moment, spot Ethereum ETFs are unusually still and quiet. It’s widely anticipated that the SEC will reject these proposals in May. The rationale is that these ETFs haven’t adequately engaged with issuers.
— Nate Geraci (@NateGeraci) April 21, 2024
Eric Balchunas, a senior ETF expert at Bloomberg, emphasized that the Securities and Exchange Commission’s (SEC) silence on Ethereum ETF applications suggests a low probability of disapproval this time around. However, if the SEC declines, there is a risk of another legal battle, especially if Grayscale pushes forward following its successful Bitcoin ETF court case.
Despite doubts about the significance of an Ethereum ETF given the lukewarm reception to previous futures-based versions, Geraci points out that Ethereum’s impressive $379 billion market value makes it a noteworthy prospect for issuers to consider.
Despite the crypto community’s excitement over potential SEC decisions, those hoping for Ethereum ETF approval might find the lack of news particularly unsettling.
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2024-04-21 16:36