Analyst Suggests Approval for Ether ETF is Unlikely
Key Takeaways
- Bloomberg Intelligence analyst James Seyffart predicted that approval of an Ether ETF in May was unlikely, citing a lack of engagement between the SEC and the issuer.
- The SEC’s approach for the Ether ETF differs from its previous, more collaborative process for the Bitcoin ETF.
- Despite a strong lineup of issuers waiting in the wings, prospects for Ether ETF approval in May are looking increasingly slim.
Latest assessment by Bloomberg Intelligence ETF analyst James Seyffart dThere are suspicions that a spot Ether (ETH) exchange-traded fund (ETF) will receive approval in May.
These doubts are based on obvious facts. Confrontation between issuer and Securities and Exchange Commission (SEC).
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several companies including Industry giants BlackRock, Grayscale, Fidelity, ARK 21Shares and others have entered the fray., It is vying for coveted approval to launch an ETH ETF.
Earlier this month, the SEC postponed a decision on applications from BlackRock and Fidelity. Seyffart predicts: It is likely that your application will still be rejected on May 23rd. During this cycle. This is a revision of his and his colleague Eric Balchunas’ previous prediction, which had given a 35% chance of approval.
These comments come amid observations of a deviation in the SEC’s approach compared to the process that led to the approval of the spot Bitcoin (BTC) ETF in early January. The current scenario is: There is little to no dialogue between the SEC and ETH ETF hopefuls.
As cryptocurrency companies take the lead in integrating Ether into the ETF space, the current standoff signals a pivotal moment for the future of cryptocurrency investing.
meantime, These are difficult times dot BTC ETFlike them The highest daily outflow recorded recently amounted to $326 million..
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