By mid-April, crypto enthusiasts eagerly await news about the potential approval of a spot Ethereum Exchange-Traded Fund (ETF). Originally predicted for May, expectations are waning due to the prolonged silence from regulators, particularly the SEC. Analysts and experts share their thoughts on the matter, but clear information is scarce.
JP Morgan has announced a possible legal move against the SEC if an Ethereum ETF isn’t launched by the SEC in May. They believe this could pressure the SEC to ultimately approve Ethereum ETFs.
Max Keiser, a well-known Bitcoin supporter and advisor to El Salvador’s president, made an unexpected statement, praising the SEC’s caution in not yet approving an Ethereum ETF. Known for his strong support of Bitcoin and criticism towards other digital assets, Keiser labeled Ethereum as a “proof-of-stake scheme” that doesn’t meet the standards for SEC endorsement.
Other industry figures such as VanEck and CoinShares share Keiser’s hesitance regarding the SEC’s approval, expressing similar reservations.
VanEck’s CEO anticipates that the SEC will reject the Ethereum ETF application in May due to the regulatory body’s reluctance to provide detailed responses on submissions. Instead of continuing to pursue ETFs, he advises focusing on managing the volatile Ethereum gas fees. Similarly, CoinShares’ leader shares this viewpoint, forecasting a dismal probability for Ethereum ETF approval in 2023 or beyond.
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2024-04-12 14:50