The U.S. Securities and Exchange Commission (SEC) has delayed its decision for the third time on proposals for Ethereum spot ETFs from Hashdex and ARK 21Shares, setting final deadlines for May 30th and May 24th, respectively. Similarly, Ethereum spot ETFs from VanEck and Grayscale also await their third review deadlines, with analysts expressing doubts about their approval in May.
Bloomberg ETF analyst James Seyffart anticipates further postponement by the SEC, expressing pessimism about the likelihood of approval, citing a lack of engagement from the SEC and contrasting it with past Bitcoin spot ETF discussions. He suggests that these applications may face rejection by May 23rd.
Analyst Eric Balchunas echoes this sentiment, lowering the probability of Ethereum ETF approval to 35%, citing weaker factors compared to Bitcoin spot ETFs, such as potential legal issues and the correlation between Ethereum spot and futures markets.
These concerns align with Fox Business reporter Eleanor Terrett's observation that the SEC hasn't prioritized Ethereum spot ETF approval as it did with Bitcoin spot ETFs.
Following the pessimistic outlook, Ethereum (ETH) briefly dipped to $3,150, rebounding to $3,237 before the deadline, marking an 8.68% decrease in the past 24 hours. The uncertain approval status of Ethereum spot ETFs could dampen expectations for ETH price growth.
ETH Spot | Image Source: Binance
Grayscale is contemplating adding "staking" functionality to its Ethereum spot ETF application, aiming to mitigate inflationary pressures of the Ethereum proof-of-stake (POS) protocol. The proposal requires over 50% shareholder approval and aligns with similar offerings from companies like ARK 21Shares, Franklin, and Fidelity, which have integrated Ethereum staking into their ETF applications.
SEC opens comment periods for three ether spot ETF proposals. Analysts cautious despite bitcoin ETF approval. Gensler clarifies approval not indicative of stance on other tokens. SEC examining ETH categorization as security. Deadline set for May 23 for final decisions.
Xu LinThe approval of a Bitcoin ETF has many optimistic about the possibility of an Ethereum spot ETF launching soon, but experts warn it could be a lengthy process.
JinseFinanceStandard Chartered predicts Ethereum's potential surge to $4,000 by May, fueled by expected spot ETF approval. Caution advised amid market dynamics and regulatory uncertainties.
Huang BoTD Cowen analysts say MicroStrategy stock’s premium over BTC will compress but not disappear as spot Bitcoin funds come online.
JinseFinanceAnalytics firm IntoTheBlock suggests that traders are anticipating the approval of a spot market exchange-traded fund (ETF) for Ethereum (ETH) following the recent "fake" approval announcement of spot-based Bitcoin ETFs. Ethereum has outperformed Bitcoin by over 10% since the fake announcement, signaling traders' expectations for Ethereum ETF approvals. IntoTheBlock's analysis indicates that the SEC's approval of spot Bitcoin ETFs could pave the way for a similar approval for Ethereum, as both are subject to potential manipulation.
EdmundIn anticipation of the looming deadline for a spot Bitcoin ETF decision on January 10, several asset managers, including Vaneck, Valkyrie, Fidelity, Bitwise, and Grayscale, have submitted filings to register their spot Bitcoin exchange-traded funds (ETFs) as securities with the U.S. Securities and Exchange Commission (SEC). Forecasts suggest the SEC may render a decision before the set date.
EdmundSEC sets December 29 deadline for Bitcoin ETF proposals, with a decision expected on January 10, 2024.
BrianBlackRock’s filing renewed the hopes of several U.S. traditional finance firms. Here’s the list of companies that have resubmitted their applications.
cryptopotatoCould the world’s largest asset manager be the first firm to launch a Bitcoin spot ETF in the United States?
cryptopotatoThe U.S. Securities and Exchange Commission (SEC) will announce its decision on the Bitcoin-linked spot Exchanged Traded Funds (ETFs) proposals ...
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