The consensus among experts is that spot Ethereum exchange-traded funds will not be allowed to trade by the end of May.
Eric Balchunas, a Bloomberg ETF specialist, said that on X The likelihood that spot Ethereum will be available (ETHThe number of ETFs that are accepted in May has dropped to less than half due to the lack of any telltale indicators before Bitcoin spot (BTCIn January, ETFs received approval. Analysts had predicted that 60% to 70% of ETFs would be approved by the end of May.
Eleanor Terrett, Fox’s Eleanor Terrett, also expressed this sentiment. She pointed out that U.S. SEC still has not engaged issuers in the same way it did last year for spot BTC bids on ETFs.
Jake Chervinsky shared similar remarks on a thread from March 11, 2018. According to the lawyer for crypto, securities regulators could have a new basis of denial not previously established in the Grayscale Court case.
Chervinsky said that the SEC could reconsider its position on the correlation of spot and futures market and that futures product exposure to crypto-assets is sufficient despite this. Grayscale ruling. Legal veteran claimed that August 2023’s verdict wasn’t an “absolute judgment,” The SEC can use similar tactics and justify them with different justifications.
To be clear, I’m not saying there’s *no* chance for a spot ETH ETF to be approved this year. In this early to mid bull market, I think the general opinion is exaggerating the chances of an approval.
Jake Chervinsky is the chief legal officer of Variant Fund
The Spot Ethereum ETF Issuers are in Limbo
Gary Gensler s’est previously entretenu with the spot BTC ETF application within 90-days of deadline for approval or disapproval.
But the SEC is instead allowing investors to buy Ethereum ETFs in the spot market. The 90-day window opened for these products on Feb. 23. delayed There is no feedback from the issuers regarding filing information.
Crypto.news has reported that the SEC may meet with issuers of spot Ethereum ETFs in this month. citing Reuters was the first to mention sources. Coinbase also has urged The securities regulator must approve Grayscale’s request to convert the Ethereum Trust to an ETF.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: crypto.news