It’s unlikely that Ethereum ETFs will receive approval from the regulators this May, as per the assessment of well-known ETF expert Eric Balchunas.
Based on a Barron’s report, some ETF creators have held talks with the Securities and Exchange Commission (SEC) about potential Ether ETFs. At this point, the SEC hasn’t given these businesses clear guidance.
An earlier report suggested that the SEC was in the process of approving Bitcoin ETFs, involving a series of consensual exchanges between the SEC and the ETF applicants. However, the SEC currently appears less inclined to enter into active dialogues with ETF proposers, as indicated by Barron’s recent article. Instead, the communications seem to be primarily initiated by the SEC.
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The SEC has yet to give comments on several Ethereum ETF proposal submissions, preventing the approval process from progressing further. Despite recent reports suggesting that the SEC discussed these applications in private meetings, no feedback has been provided thus far. According to Balchunas, “the absence of feedback is as impactful as action itself.”
In March, the Securities and Exchange Commission (SEC) delayed making a decision on several Ethereum Exchange-Traded Fund (ETF) applications, among them being that of BlackRock, the major financial corporation.
According to U.Today’s report, the likelihood of an Ethereum ETF getting approved in May, as assessed by Bloomberg’s ETF expert, stood at a mere 25%.
Last week, the regulatory body requested public feedback on the applications submitted by BlackRock and other companies.
Proposals for an Ethereum exchange-traded fund (ETF) are encountering several challenges: from legislative pushback in Congress to increasing questions about the cryptocurrency’s regulatory classification as the leading altcoin.
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2024-04-08 23:15