Key Points
- The SEC’s silence is causing uncertainty about the approval of Ether ETFs by May.
- Analysts suggest the SEC chair’s view of Ether as a security could influence the decision.
The crypto community is in suspense as they await the United States Securities and Exchange Commission’s (SEC) decision on Ether exchange-traded funds (ETFs). The SEC’s silence is causing unease among issuers, leading to doubts about a May approval.
Analysts Weigh In
Bloomberg ETF analyst Eric Balchunas has commented on the situation, stating that the chances of an Ether ETF approval by May are down to 35%. He cited a lack of positive signs and sources that were previously bullish on Bitcoin.
Balchunas also pointed out the SEC Chair Gary Gensler’s perspective on Ether. He suggested that Gensler’s view of Ether as a security could potentially influence the approval process.
Other Perspectives
Nate Geraci, president of ETF Store, expressed confusion about the SEC’s lack of engagement with prospective issuers. Meanwhile, Matt Corva, the general counsel at ConsenSys, proposed that a denial of an ETH ETF could have long-term benefits.
On March 6th, industry leaders like Coinbase and Grayscale met with SEC officials to discuss rule changes for spot Ether ETFs. Despite initial optimism, Balchunas, echoing insights from VB Capital’s Scott Johnsson, presents a cautious view.
The upcoming U.S. election day could be a key turning point for regulatory changes. Despite the current uncertainties, Balchunas remains confident in an eventual approval for spot Ether ETFs.
