Key Points:
Craig Salm expressed optimism, noting that many issues common to spot Ethereum ETFs had already been resolved before spot Bitcoin ETFs were approved. Salm emphasized the SEC’s prior engagement, stating that issuers have less to discuss this time around.
Bloomberg ETF analysts Eric Balchunas and James Seyffart, however, have lowered the odds of an approved spot Ethereum ETF in May to 25%, citing concerns over the SEC’s apparent lack of engagement. The SEC previously delayed its decision on the approval of Grayscale Ethereum Futures Trust’s Ethereum ETF application, with a new deadline set for May 30.
The Securities Exchange Act of 1934 mandates a timeframe of 180 days for the SEC to make a decision on proposed rule changes. Grayscale submitted its application in September, with the SEC postponing its decision in November, according to recent filings.
Despite these delays, it’s worth noting that the SEC had previously approved a series of Ether futures ETFs in October 2023, including offerings from ProShares, VanEck, and Bitwise.
Various firms await SEC approval for spot Ethereum ETFs, including BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale, Franklin Templeton, and Hashdex. VanEck’s application deadline is May 23, with analysts anticipating decisions for all applicants on that date.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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