Overlooked Detail in Ethereum Application Revealed: Will There Be Rejection?

The analyst, who thinks that Spot #Ethereum ETF applications will be rejected, included a noteworthy detail.

Van Buren Capital co-founder Scott Johnsson focused on spot Ethereum applications in his May 14 post. He stated that there was an important detail in the correspondence between the US Securities and Exchange Commission (SEC) and companies that wanted to issue #Ethereum , but everyone missed it.

While he stated that the SEC raised concerns that there may be security issues in response to spot Ethereum ETF applications, he reminded that this was an issue that was not managed by previous spot #Bitcoin ETF issuers.

Based on this, Scott Johnsson, who predicted that the SEC would attach a "security" label to Ethereum, said that it is unlikely that spot Ethereum ETF applications will be approved.

The obvious goal is to reject ETFs by stating that these spot applications are improperly filed as commodity-based trust shares and that they are based on improper basis because they hold a security.
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