According to Nate Geraci, president of the ETF Store, there’s a widespread belief that the SEC won’t give its approval for Ethereum spot ETFs in May.
This is due to the lack of engagement with issuers over the past few weeks.
Recently, Barron’s mentioned that talks surrounding spot ETFs have been heavily favoring one perspective. Contrastingly, prior to the approval of various Bitcoin ETFs, there was frequent give-and-take between opposing views.
The SEC has remained silent on the issue of Ethereum ETFs, indicating a strong possibility that they will not grant approval at this time.
Eric Balchunas, Bloomberg’s senior ETF analyst, expressed that the Securities and Exchange Commission (SEC) not responding or engaging with prospective issuers can be seen as a form of action, or even harm.
Another lawsuit?
If the SEC decides not to approve numerous Ethereum ETF proposals, they may be subjected to another legal action, as suggested by Balchunas.
In August, the court of appeals in the District of Columbia overturned the SEC’s decision to reject Grayscale’s proposal for a Bitcoin ETF.
Geraci expresses his opinion that Grayscale may file a new legal action against the SEC due to their refusal to greenlight Ethereum ETF proposals.
“He suggested that assuming the role of a Grayscale supporter is necessary, but another ETF issuer with sufficient resources might consider this an investment in marketing. Essentially, they could position themselves as crypto advocates and champions of innovation.”
Does anyone care about Ethereum ETFs?
The importance of Exchange-Traded Funds (ETFs) based on spot Ethereum has been debated, as futures-backed Ethereum ETFs have not garnered much interest from investors.
Despite Bitcoin ETFs achieving remarkable success, Geraci is convinced that Ethereum ETFs remain significant.
With a market capitalization of $379 billion, Ethereum is a significant player that warrants the close scrutiny of financial analysts and issuers alike.
Read More
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- USD CLP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- USD COP PREDICTION
- SEILOR PREDICTION. SEILOR cryptocurrency
- EUR ILS PREDICTION
2024-04-21 15:16