Will Ethereum ETFs be approved this week?
After the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs, all eyes turned to applications for spot Ethereum ETFs. Decision week has arrived for spot ETH ETFs. “Will Spot Ethereum ETFs be approved?” The question will finally be answered this week.
The SEC, which has constantly postponed the evaluation of spot ETH ETF applications to date, has to make a rejection or approval decision on two applications within this week. The regulatory authority will announce the final decision regarding spot ETF applications made by VanEck on Thursday, May 23, and ARK Invest on Friday, May 24.
In addition to these two companies, many other companies, including #BlackRock and #Grayscale , also have spot ETH ETF applications. But the SEC doesn't have to announce its decision on them this week. However, it is thought that the two decisions the SEC will make this week will shed light on the decisions it will make in the future.
#Cryptocurrency and #ETF experts do not seem to be as hopeful about spot Ethereum #ETFs as they are about spot Bitcoin ETFs.
SEC Chairman Gary Gensler's cold view of cryptocurrencies and the fact that Ethereum is seen as a security rather than a commodity strengthens the idea that these applications may be rejected. The fact that there is less political support behind Ethereum compared to Bitcoin also supports this idea
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