Last week, the SEC announced that it is seeking public comments on a trio of proposed spot Ethereum ETF. However, as the SEC has reached the deadline for its decision, which is May, it is very unlikely that it would approve of Ether ETF.
As per Vaneck CEO, his firm is one of the applicants seeking Ethereum ETF approval however, they are not very confident about getting it. He said – “We were the first to file as well for Ethereum in the U.S., and we and Ark, Cathie Wood, are kind of the first in line for May, I guess, to probably be rejected.”
As per our records, the SEC has been working on classifying Ethereum as a security. It even issued written orders to US companies with a special focus on the Ethereum Foundation. Ethereum Foundation is basically a non-profit organization aimed at governing and developing blockchain technology. This investigation is clear proof of the SEC’s ongoing scrutiny of the crypto space.
However, coming back to the point, the prospects of Eth ETF approval like JP Morgan and Jean-Marie Mognetti are doubtful of hearing good news from the SEC.
Hence, what the future holds with regard to Ethereum ETF approval is what the crypto market is fascinated about!
Want to know what turn would Eth ETF approval news would take in a few days?
Stay tuned at ReadingCrypto for all the trending happenings.
Also, don’t forget to join us on our safari into the crypto world at MyCryptoSafari.
See you soon!
Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
